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.
Most Recent
Currently, the gold market's gaze is firmly fixed on a pivotal target: breaching the 50-Day Exponential Moving Average, strategically positioned near the $1965 mark.
Amidst the flurry of activity, the 1.09 level stands as a focal point, drawing the attention of traders in its gravitational pull.
In the West Texas Intermediate (WTI) Crude Oil market, Wednesday's trading session portrayed a sense of stability, with the $80 level underneath acting as a psychological bulwark.
The GBP/JPY marked a significant rally in Wednesday's trading session, firmly establishing its position above the ¥185 level.
The AUD/USD commenced its trading session on Wednesday with a hopeful rally, only to relinquish gains as the 0.65 level stood as a formidable resistance point.
The USD/TRY stabilized, trading near its highest levels ever.
The price of the USD/JPY currency pair increased from its sharp gains, reaching the resistance level of 145.86.
The gold price is still in a strong decline, in the face of the strength of the US dollar, with investor sentiment shifting away from the yellow metal in light of hopes to avoid an economic recession.
During yesterday's trading, the British pound shyly rose against many other major currencies, after data from the Office for National Statistics (ONS) indicated the continuation of record growth in British wage packages.
Bonuses & Promotions
The bears' control of the direction of the EUR/USD currency pair intensified, and the losses this week reached the support level at 1.0875, the lowest for the currency pair in five weeks, and settled around 1.0903 at the time of writing.
The road ahead for silver price seems to be paved with hurdles, making for a rather uneven journey in terms of its valuation.
The current sentiment enveloping natural gas is one of calculated opportunity-seeking, capitalizing on price declines.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.The Reserve Bank of New Zealand this morning kept its Official Cash Rate in place as expected, and the NZD/USD touched a lower value this morning not seen since the middle of November 2022.
The USD/BRL continues to trace towards higher values and has sustained its bullish trajectory as global market conditions remain nervous.
During Tuesday's trading session, the gold market witnessed a minor decline, yet the presence of underlying support remains resilient.