Gold was hit hard on Thursday as rising US yields pressured prices, with $4,600 now the key level to watch for either a rebound or deeper breakdown.
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 remains headline-driven and rangebound below $100, with $102 needed for a breakout higher while $92 and $85 stand out as major support levels.
Chainlink (LINK) is trading around the $9.10–$9.20 range after failing to hold onto earlier intraday gains.
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Bitcoin has made a strong bearish breakdown over the past day.
The USD/TRY is around the 44.31950 vicinity depending on the bids and asks currently being exhibited on trading platforms, this as the usual wide spread has to be dealt with by speculators within the currency pair.
The USD/MYR is trading near the 3.9400 level as of this writing, this after the currency pair swept upwards yesterday after a low of nearly 3.9030 was challenged.
The Australian dollar continues to chop back and forth against the US dollar on Wednesday, as traders are trying to gauge what the risk profile will be ahead of the FOMC.
The big winner here will be the United States, with its almost 14 million barrels of production daily.
The gold market fell early on Wednesday, as the market is waiting to hear from the FOMC later.
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The dollar continues to rise against the yen overall, threatening the breaking of a massive barrier.
The South African rand, and other exotics, find themselves on the back foot on Wednesday ahead of the FOMC release.
Bitcoin fell on Wednesday, as traders are continuing to build a bit of a base.
The Euro rose a bit in the early part of the day against the Swiss franc on Wednesday. With this being the case, the markets are trying to price in the idea of SNB intervention, and possibly the pressure on the ECB to raise rates due to inflation via energy.
The Euro rose a bit in the early part of the day against the Swiss franc on Wednesday. With this being the case, the markets are trying to price in the idea of SNB intervention, and possibly the pressure on the ECB to raise rates due to inflation via energy.
One quick look at the chart over the last year tells you just how strong South Korea remains as a choice to Asian exposure.