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 GBP/USD pair remained on edge at a crucial support level as traders waited for important macro data. It was trading at 1.3460 on Monday morning, down slightly from last week’s high of 1.3535. It remains much higher than the November low of 1.3000.
The EUR/USD pulled back as volume started rising after last week’s New Year celebrations. It retreated to a low of 1.1720, a few pips below last week’s high of 1.1817. It will likely start its volatility after the recent events in Venezuela and as traders wait for key macro data from the United States and Europe.
The precious metals bubble burst and the USA removed the Maduro regime from power in Venezuela.
This weekly market forecast analyzes forex, commodities, crypto, and indices, highlighting key price levels and market outlooks.
The US dollar continues to grind higher against the yen in a choppy range, with support near the 50-day EMA around 155 and resistance at 158, as the wide US–Japan rate differential and BOJ’s limited tightening scope keep a buy-the-dip bias intact toward the 160 area.
The US dollar continues to edge up against the Swiss franc in a well-defined 0.79–0.8150 range, with traders favoring buy-the-dip setups amid thin holiday liquidity, SNB discomfort with franc strength, and a positive swap supporting long USD/CHF positions.
The S&P 500 has eased slightly as traders head into New Year celebrations, yet the broader uptrend remains intact, with buyers likely to step in on dips above the 6,500–6,800 support zone while aiming for a move toward the 7,000 level and beyond.
The euro remains under pressure below the 1.18–1.1875 resistance zone, with EUR/USD likely to stay choppy and range-bound as traders juggle Fed cut expectations against lingering demand for the US dollar as a safe haven.
WTI crude remains under pressure as repeated selling on rallies, record US output and ample global supply cap prices below key resistance, leaving the market biased to sell short-term bounces above the $55 support zone.
Silver remains highly volatile, with repeated selloffs testing the $70 support level and raising the risk of a deeper slide toward $65, making caution essential for traders.
Gold has bounced from its pullback into an ascending triangle, holding above the $4,200 area as traders watch for a breakout above $4,400 that could open the way toward $4,900 in 2026.
Ethereum is chopping sideways above $2,700 in what looks like a cautious accumulation phase, with any major breakout still dependent on Bitcoin and overall risk sentiment.
The Canadian dollar faces selling near 114.60 yen, but bullish dips above 113.50 keep CAD/JPY positioned for a breakout toward 115 and potentially the 119 area in a broader uptrend.
The British pound is once again capped by the 1.35 level against the dollar, leaving GBP/USD poised for a breakout in either direction as traders balance Fed cut expectations against a recently dovish Bank of England.
The $55 level has been a major floor in the light sweet crude oil market.
