The US-driven trade war is playing havoc with markets, sending stocks and commodities lower, while the greenback sinks in favor of the Euro in the Forex market.
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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WTI Crude Oil continued to show an ability to challenge new lows this past week, this as supply remains solid and thoughts on economic outlook may be factoring into the commodity.
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The British pound struggles at 1.29, with signs of a potential pullback toward 1.2750 before resuming its bullish trend amid dropping US yields.
The US dollar finds support at 1.43 against the Canadian dollar after a sharp drop, with technical levels suggesting a possible recovery toward 1.44 or higher.
Bitcoin fails to hold above $90,000, facing technical resistance and economic uncertainty, with a breakout above $94,500 potentially targeting $105,000.
The British pound stabilizes at 1.14 against the Swiss franc, with interest rate differentials supporting a potential rebound toward 1.17.
Gold remains supported at $2900 as geopolitical uncertainty and a weakening US dollar drive demand, with a potential breakout toward $3300.
The EUR/USD pulls back from overbought levels near 1.08, with traders watching key support ahead of the US non-farm payroll report and shifting rate expectations.
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The EUR/JPY pulls back below 160 JPY, testing support near the 50-day EMA, as the pair remains stuck in a broader range between 155 and 165 JPY.
The USD/JPY weakens as the yen gains momentum, with key support at 145 JPY and resistance at 150 JPY ahead of Friday’s non-farm payroll data.
The DAX remains bullish despite volatility, with potential buying opportunities emerging near the 23,000–22,500 EUR support zone.
Silver finds support at $32.35 and remains in an uptrend, with volatility expected ahead of US non-farm payroll data and key resistance at $33.33.
The Turkish lira remains stable for a fourth day as investors await the central bank's interest rate decision, with monetary tightening impacting consumer spending trends.
The euro rallies to a 4-month high against the US dollar as economic optimism in Europe and declining US economic sentiment drive bullish momentum in the currency pair.