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.
USD/JPY fell sharply from the ¥153 resistance zone, hinting at a potential double top, with ¥150 emerging as a key support level ahead of major central bank decisions.
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Natural gas prices dipped toward key support near the 200-day EMA as the market transitions to the December contract, with colder weather and seasonal demand likely to fuel further upside.
USD/SGD is drifting lower near 1.29470 as traders await the Fed’s FOMC statement, with a dovish tone potentially triggering further downside in the pair.
Notably stronger than expected Australian inflation data has pushed the Aussie firmly higher.
Bitcoin has lost short-term momentum, dropping below key support levels, but a developing megaphone pattern suggests a potential for bullish volatility after the Fed decision.
GBP/USD remains under strong bearish pressure below the Supertrend indicator, with a potential drop to 1.3140 likely ahead of the FOMC decision amid weakening U.S. data.
EUR/USD is consolidating within a symmetrical triangle, with technical and fundamental signals pointing to a potential bullish breakout ahead of the FOMC and ECB rate decisions.
As expected, the EUR/USD price has remained within narrow ranges at the start of this week's trading, pending the market and investor reaction to the policy announcements from both the US Federal Reserve (Fed) and the European Central Bank (ECB).
Gold prices dropped below the key $4,000 level on Tuesday as easing geopolitical tensions and anticipation of a Fed rate cut triggered profit-taking and bearish momentum.
The euro continued its strong rally against the Japanese yen on Monday, fueled by risk-on sentiment and expectations of further yen weakness ahead of central bank meetings.
The USD/JPY pair climbed on Monday amid improved US-China trade sentiment, with resistance at ¥153 as traders await rate decisions from the Fed and Bank of Japan.
The British pound remained under pressure against the US dollar on Monday, struggling near resistance at 1.34 as traders await the Fed’s rate decision.
Bitcoin briefly rallied above $116K on Monday before retreating, forming a possible W pattern with support near $110K and resistance at $120K as risk sentiment improves.
USD/CAD rebounded on Monday, holding firm near 1.40 as traders brace for interest rate decisions from both the Fed and Bank of Canada amid ongoing bullish pressure.
