Despite global economic gloom, the IMF upgraded Turkey’s 2025 growth forecast to 2.7%, supporting the lira’s resilience as USD/TRY steadies near key resistance.
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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After reaching its highest level since 2022, EUR/USD has pulled back near the 1.1300 support zone, with traders watching closely for signs of either trend continuation or reversal.
Gold prices have pulled back from all-time highs near $3500, but technical and macro indicators suggest the bullish trend for XAU/USD remains intact for now.
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USD/JPY rebounded from a seven-month low as improved sentiment and easing political tensions supported short-term gains, but bearish pressure still lingers.
The GBP/USD pair is undergoing a healthy pullback from recent highs, but key Fibonacci support levels and an intact bullish trend suggest a potential rebound.
The US dollar rebounded against the Canadian dollar on Wednesday, testing key resistance at 1.3850 amid ongoing tariff tensions and Canadian election risk.
The US dollar formed a hammer near the 200-day EMA against the Mexican peso, signaling a potential rebound toward the 20.00 MXN level as oversold pressure fades.
The US dollar rebounded against the South African Rand on Wednesday, forming a potential hammer pattern near the 50-day EMA as oversold pressure eases.
The DAX index gapped above the 50-day EMA on Wednesday, signaling bullish momentum with potential upside to €22,500, though headline risk remains high.
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The British pound has broken above the key ¥190 resistance against the yen, opening the door to further gains toward ¥195 if bullish momentum holds.
The US dollar is rebounding against the yen after a brief dip below 140, with a potential long signal forming if USD/JPY closes above 143.
The euro continued to sell off on Wednesday after a parabolic rally, with EUR/USD potentially entering a consolidation phase between 1.12 and 1.15.
The Australian dollar pulled back from the 200-day EMA and long-term resistance near 0.6440 on Wednesday, as fading US-China trade optimism capped gains.
The US dollar rallied against the Swiss franc on Wednesday as optimism around easing trade tensions fueled a rebound from recent lows, with the 0.81 level acting as key support.
Gold continues to retreat from recent highs near $3,500 as traders take profits, with eyes on the $3,200 support level for a potential buying opportunity.