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.
During my daily analysis of the major indices around the world, the NASDAQ 100 is always one of the first ones I look at, as it can give you a good idea as to what risk appetite might end up being. After all, these are some of the largest technology companies in the world, and therefore we need to have more of a “risk on attitude” in order to throw money at them.
During my daily analysis of the major currency pairs, the AUD/USD pair is one that has caught my attention as we are hanging around the 0.62 level. The 0.62 level is an area that’s been important multiple times, so I think you should pay close attention to what goes on here. All things being equal, looks like a market that is going to be very noisy and choppy, and of course the fact that the area previously had been important multiple times over the longer term.
The AUD/USD exchange rate remained on edge ahead of Donald Trump’s inauguration in the United States. The pair retreated below the psychological point at 0.6200, a few points above this month’s low of 0.6133.
The USD/CAD pair rose initially during the trading session on Friday, reaching the top of the recent consolidation area before giving back quite a bit of the gains. By doing so, it shows just how noisy and choppy the markets are right now, considering the currency markets are typically a lot less volatile than stock markets, which have been a bit of a monster themselves. That being said, this is a pair that I think eventually has to resolve to the upside, unless something drastically changes.
During the daily analysis that I do of major currency pairs, the USD/JPY pair has captured my attention as we tried to break down below the ¥155 level, which is an area that has been important multiple times. In fact, it is almost as if the level acts like a brick wall, so that tells you just how much support there is there.
Markets are seeing rising risk-on sentiment as economic data points towards an increasing likelihood of US rate cuts in the foreseeable future.
After opening this past Monday with strong selling and falling below the 1.02000 level, the EUR/USD did show some ability to create upwards momentum, but its price action remains uninspiring for bulls.
WTI Crude Oil did go above the 79.000 USD price level this past Wednesday, a mark not seen since August 2024, but then reversed lower and closing on Friday near the 77.055 ratio.
Get the weekly Forex forecast for major currency pairs for the week of January 20-25, 2025 here.
The USD/CHF is drifting a little bit lower but it’s probably worth noting that the market is in the midst of a major hammer from the previous session.
During my daily analysis of exotic currency pairs, it’s worth noting that the USD/MXN pair has been very strong, as interest rates in America continue to climb.
The US dollar initially rallied a bit during the trading session, and that of course includes the British pound.
During my daily analysis of major currency pairs, the EUR/USD pair is one that I always check first, and right now it looks like it’s very neutral.
In my daily analysis of major currency pairs, the AUD/USD is what I find very interesting, as we are hanging around the 0.62 level.
The dollar has rallied a bit against the Brazilian Real gaining about 80 basis points during the trading session on Thursday as we continue to see a lot of upward momentum for the greenback.
