Copper prices are easing as expectations of further Federal Reserve tightening raise concerns about financing costs, although demand from AI data centers continues to provide underlying support.
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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Gold continues to weaken despite the Federal Reserve's decision to leave interest rates unchanged, as stronger-than-expected US GDP data reinforces expectations of restrictive monetary policy.
Silver continues to struggle below the former $55 support level as expectations of further Federal Reserve rate hikes weigh on precious metals.
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Solana is down around 16% over the past four weeks, a sharp reversal from the strength it showed earlier in the autumn.
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EUR/USD recovered slightly during Wednesday's session as traders reduced short positions ahead of the Federal Reserve announcement, but Chris Lewis remains bearish on the euro.
Silver continues to struggle below previous support as elevated US Treasury yields weigh on precious metals.
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USD/JPY remains supported by bullish momentum and a rebound from its 200-day EMA, with traders watching the Federal Reserve and Bank of Japan for further direction.
Natural gas futures have gapped higher following the rollover into the December contract, although warmer-than-normal US weather forecasts continue to weigh on near-term demand.
AUD/USD has climbed to its highest level since September 23 following stronger Australian inflation data, increasing expectations of another RBA interest rate hike.
GBP/USD remains under pressure near 1.3300 following the Federal Reserve's decision to hold interest rates, with traders awaiting US PCE inflation and GDP figures alongside next week's Bank of England meeting.
EUR/USD is consolidating near 1.1150 following the Federal Reserve's decision to leave interest rates unchanged, with attention shifting to the ECB announcement and upcoming US economic data.
Gold is trading cautiously ahead of the Federal Reserve's interest rate decision, with elevated yields and persistent inflation concerns weighing on short-term sentiment.