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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This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 30th, 2023 here.
The S&P 500, not being a market-cap weighted index, saw a notable uptick in electronic trading overnight after Meta beat estimates and rose by an impressive 6.4% in after-hours trading.
In the trading session on Thursday, silver exhibited a notable rally, catching the attention of market participants.
During the latest trading session on Thursday, the gold market found itself grappling with the impact of key decisions from both the Federal Reserve and the European Central Bank.
During the Thursday trading session, the focus is firmly set on the European Central Bank (ECB) as rumors of an interest rate hike circulate in the financial markets.
In the Thursday trading session, the natural gas market witnessed a slight decline during early electronic trading.
The USD/JPY faced initial weakness against the Japanese yen but managed to stage a comeback during Thursday's trading, displaying signs of renewed strength.
Crude oil markets experienced a notable rally during Thursday's trading session, hinting at a potential breakout.
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During the Thursday trading session, the GBP/JPY experienced a slight pullback, a temporary setback that is likely to be followed by a bounce back, showcasing the currency's resilience in the forex markets.
During Thursday's trading session, the British pound made an initial attempt to rally, touching the 1.30 level before facing a pullback.
The AUD/USD demonstrated strength during Thursday's trading, surpassing the 0.68 level in early sessions.
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The price of the euro against the US dollar, EUR/USD, interacted with yesterday's important event, which was the US Federal Reserve's announcement to raise interest rates by a quarter of a point, as was expected.
The value of the dollar fell through most of 2023 as low inflation allowed the Federal Reserve to ease into the rate-raising cycle, finally allowing it to keep interest rates unchanged in June.