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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Forex Technical Analysis
Natural gas markets rallied initially during the trading session on Wednesday, reaching towards the previous uptrend line.
Gold markets will probably stick to consolidating as we await the trade tariff decision on December 15, which is this Sunday.
Ethereum has to deal with more than growing competition from more promising projects like TRON, Tezos, and Binance.
GBPUSD: Pound high on British opinion polls forecasting Govt win
EURUSD: Bullish breakout beyond 1.1113
Today’s Swiss National Bank interest rate announcement is expected to show no change; Switzerland, together with Denmark, is home to the lowest global interest rate at -0.75%.
Economic data out of Japan, in the form of machine orders that plunged in October, disappointed.
Australian consumer inflation expectations for December remained elevated and gave the Reserve Bank of Australia another reason to remain on the sidelines.
For five consecutive trading sessions, the USD/JPY price is trying not to cross the 108.00 psychological support barrier so that the current downside strength does not increase, and the pair settles around 108.76 at the time of writing, and before the announcement of monetary policy decisions from the US central bank.
Since the beginning of this week’s trading, gold prices have watched with caution the arrival of a wave of important economic data and events affecting sentiments of global financial markets and investors.
As is the case, the Pound ignored the results of the economic data and focuses more on the future of the general and crucial elections, which will be held in the United Kingdom tomorrow, Thursday, and will determine the fate of Brexit.
The price of the EUR/USD will receive the monetary policy decisions of the US Federal Reserve Bank during the trading today, a day before the European Central Bank announces its policy decisions in the first official meeting of the bank under the leadership of Christine Lagarde
AUDUSD: Support at 0.6800 holds firmly
USDJPY: Ranging between 108.25 and 109.00
Bitcoin: Range is holding