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.
GBP/CHF bounced from the key 1.05 level on Tuesday, but with resistance looming near 1.0650, the pair remains vulnerable to renewed selling pressure.
EUR/GBP faded intraday gains on Tuesday but continues to hold above key support at 0.8750, with technicals and macro drivers favoring a potential move toward 0.89.
AUD/USD stayed range-bound near 0.6515 on Wednesday, with technicals pointing to a possible bearish breakout toward 0.6400 as traders await Fed minutes and US jobs data.
BTC/USD held steady near $93,400 on Wednesday, with a potential relief rally targeting $97,000 if key support at $88,790 continues to hold amid Fed and ETF-related catalysts.
GBP/USD hovered near 1.3150 on Wednesday, with upcoming UK inflation data and Fed minutes likely to drive a bearish move toward key support at 1.3000.
EUR/USD remained flat near 1.1580 on Wednesday, with upcoming CPI data and Fed minutes likely to trigger a move toward key support at 1.1470.
For three consecutive trading sessions, spot gold prices have been incurring losses due to new selling transactions, initiated from the $4245 per ounce resistance level last Thursday. Losses extended to the $4006 per ounce support level, and according to gold trading company platforms, the gold index is stable around the $4022 per ounce level at the time of writing this analysis. Commodity market experts believe that both the gold and stock markets are under pressure as investors assess the probability of a US interest rate cut in December.
Following the recent upward rebound gains, the Euro price appears ready to continue its recent gains against the US Dollar this week. Based on performance across trusted trading company platforms, the EUR/USD exchange rate is recovering from the selling wave seen in October, and is likely to breach the 1.1650 level in the coming days as confidence increases.
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In early futures trading this morning the S&P 500 is around the 6,655.00 ratio having shown a definite negative near-term trend since coming off of highs last Wednesday.
The Nasdaq 100 continues to face nervous selling in early futures trading this morning and is near the 24,645.00 ratio after another flurry downwards.
USD/CHF continued to rebound from 0.79 on Monday, with the broader consolidation range intact and dollar strength favored amid rising global liquidity concerns.
Bitcoin continued to slide on Monday, with a death cross, weak price action, and institutional selling pushing the market toward key support at $92,500.
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