The price action is printing successively lower resistance levels, showing that there is increasing selling pressure in the market, although the potential downside may be limited.
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
USD/JPY rallies as interest rate differentials favor the dollar, with traders watching ¥156.50 resistance and potential gains toward ¥160 amid Fed policy expectations.
EUR/USD declines sharply ahead of central bank meetings, with resistance at 1.05 and a potential breakdown below 1.04 signaling further downside toward 1.03.
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AUD/USD declines sharply, breaking below key resistance, with traders watching support at 0.62 and the upcoming Federal Reserve decision for further market direction.
BTC/USD consolidates near $100K, forming a bearish double-top pattern, with traders watching Fed policy signals and key support at $95K and $88.9K.
GBP/USD loses momentum ahead of the Fed decision and BoE statement, with technical signals pointing to potential downside toward 1.2310 unless 1.2525 resistance breaks.
EUR/USD faces increased volatility ahead of the Fed and ECB decisions, with key resistance at 1.0535 and potential downside toward 1.0300 amid shifting economic expectations.
EUR/USD strengthens near 1.0490 ahead of central bank announcements, with bullish momentum targeting 1.0570 if optimism around Fed and ECB policies persists.
Gold prices pull back to $2730 amid profit-taking but maintain an upward trend, with investors eyeing $2800 resistance and potential new highs at $3000.
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GBP/USD faces potential downside as bearish double top forms at $1.2500, with traders eyeing Trump’s tariff-driven USD strength and key support levels.
USD/BRL remains volatile below 6.0000, with traders watching support at 5.8910 and resistance at 5.9050 amid fiscal concerns and upcoming Fed policy.
USD/SGD shows choppy movement near 1.35200 as traders navigate tariff risks, upcoming Fed policy, and potential low liquidity during Lunar New Year celebrations.
AUD/USD retreats to 0.6277 as weak Chinese data and upcoming inflation and Fed announcements drive volatility, with resistance at 0.6350 and support at 0.6200.
EUR/USD climbed to a multi-week high of 1.0530 but may face a pullback to 1.0385 as traders await key decisions from the ECB and Federal Reserve.
Ethereum plunges to $3,000 amid global risk-off sentiment, with traders watching for a potential bounce or further downside toward $2,800.