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.
The US dollar has rallied quite significantly on Friday, as traders continue to watch the overall interest rate markets.
The US dollar rose against the Mexican peso, as we continue to see rates rise in the United States.
The GBP/USD exchange rate wavered after the Federal Reserve and the Bank of England (BoE) delivered their interest rate decisions. It dropped to 1.3340, a few points below last week’s high of 1.3470, with investors focusing on key macro data from the UK.
The EUR/USD exchange rate rebounded after last week’s central bank decisions by the Federal Reserve and the ECB. It jumped to 1.1622 from this month's low of 1.1408.
The AUD/USD exchange rate has remained in a narrow range since February. It was trading at 0.7020 on Monday, a few points below the year-to-date high of 0.7180.
The GBP/USD like all major currency pairs remains locked within a fairly vicious cycle, which is making day trading a rather tough affair for speculative wagers in the near-term, and things might not change soon.
The escalating war in the middle east is pushing energies higher and stocks lower, while broadly hawkish central banks are pushing up yields.
A price of 98.100 finished the week of trading in WTI Crude Oil on Friday. While that price remains high for all, believe it or not the value is actually below the previous week’s finish.
Major assets show mixed behavior under pressure from elevated rates and a strong dollar. FX, metals, and equities reflect caution and limited momentum.
USD/JPY remains bullish overall, but the 160 level is still a major barrier, with pullbacks likely to find support near 158 and 156 before another breakout attempt.
EUR/USD remains under pressure below the 200-day EMA, with rallies likely to be faded unless the pair can reclaim 1.1650 and shift the near-term outlook.
USD/CAD remains near the top of its range, with 1.3750 as the key breakout level and 1.39 the next upside target if dollar strength continues.
Bitcoin fell back on Thursday, but a recovery above $72,000 would strengthen the basing setup and put $82,000 back into focus.
Silver was hit hard by rising US yields, with $70 acting as the key level that must hold to prevent a deeper slide toward the 200-day EMA.
Natural gas spiked on Qatar supply fears, but with $3 still acting as support and $3.50 as likely resistance, traders may look to fade exhaustion near the highs.
