The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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On Friday of last week the S&P 500 traded near the 6,485.00 level. Yesterday’s session in the index did see some selling produced, but the higher elements of the S&P 500 known range remained solidly intact. As of this morning the index is around 6,437.00.
Day traders have experienced a whirlwind of results via the Nasdaq 100 the past month. This is not something new for experienced speculators, but even they might be uncomfortable taking into consideration the amount of volatility in the index in recent weeks. In early trading this morning the Nasdaq 100 is near the 23,404.00 ratio. Yesterday saw a high around 23,550.00, which was below the highs seen last Friday near 23,585.00 were challenged.
The GBP/USD exchange rate retreated as the US dollar index rebounded on Monday. It dropped to a low of 1.3450, down from last Friday’s high of 1.3553 as attention turned to key macro data from the US.
The EUR/USD exchange rate pulled back as the recent sentiment on Federal Reserve interest rate cuts faded. The pair was trading at 1.1625, down from last Friday’s high of 1.1740.
Bitcoin price has crashed in the past few days as the recent bull run faded. The BTC/USD pair moved to below 110,000, its lowest level since July 9 this year. It has plunged by 12% from its highest point this year, meaning that it is in a correction.
The AUD/USD exchange rate remained in a narrow range on Tuesday after the latest minutes of the Reserve Bank of Australia (RBA) and as traders reacted to the recent statement from Jerome Powell.
USD/CHF found support near 0.8000 on Monday, with buyers cautiously stepping in while 0.7900 remains the critical longer-term floor.
EUR/USD pulled back on Monday, holding within the 1.16–1.18 range as traders await clarity from the Federal Reserve’s September meeting.
WTI crude oil rallied into the $65 resistance zone, with traders watching for a breakout toward $70 if momentum holds above this critical level.
Bitcoin found strong support at $110K, rebounding with a bullish hammer as traders watch for a move toward $120K in its ongoing summer range.
USD/JPY rebounded from the 50-Day EMA, with traders eyeing 149 as key resistance and 146 as critical support in the coming sessions.
Gold prices remain range-bound, but strong support and Fed rate cut expectations keep the $3,500 breakout target in play.
Nvidia’s Wednesday earnings call is set to drive Nasdaq momentum, with traders watching $185 resistance and $170–$168 support for key moves.
Silver pulled back on Monday, facing resistance at $39 while support at $37.50 and industrial demand concerns keep volatility high.
