Gold spiked higher Thursday, driven by strong momentum and tailwinds from Federal Reserve easing. With $4,200 holding as a key support level, the bullish trend points toward $4,400 next—and possibly $5,000 in the coming months.
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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USD/INR surged on Thursday as shifting bond market expectations fueled dollar strength, with the Fed's rate cut and T-bill purchases contrasting India’s anticipated bond buying.
EUR/JPY recovered from early losses on Thursday, with the euro supported by higher interest rates and expectations of continued BOJ bond buying.
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USD/CAD failed to hold gains above 1.38 as resistance pushed the pair lower, with Fed bond purchases and narrowing rate differentials adding pressure.
Bitcoin remains under pressure following the Fed's rate cut, with conflicting technical patterns adding to market indecision.
Natural gas fell over 8% on Thursday after inventory data revealed storage levels 3% above the 5-year average, sparking a steep sell-off.
Gold (XAU/USD) holds firm near $4247 as markets digest the Fed's rate cut and cautious tone. With RSI near overbought and MACD bullish, the trend remains upward.
The EUR/USD pair is showing early signs of a bullish breakout after rebounding from support post-Fed rate cut.
Dogecoin (DOGE) is under pressure today after losing the key $0.14 support zone that has held for several weeks.
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NZD/USD clings to gains above 0.58000 post-Fed cut, with buyers showing resilience and short-term sentiment pointing to modest upside within a stable mid-term range.
The USD/INR pair remains volatile yet range-bound following the FOMC meeting, with India’s currency management and global trade uncertainty supporting a gradual upward lean.
USD/ILS remains in a tight range after the Fed’s rate cut, with traders eyeing resistance near 3.22600 and support at 3.22390, as the Israeli shekel continues to show resilience.
The NASDAQ 100 erased early losses and turned higher after the Fed’s rate cut, supported by buy-the-dip sentiment, bullish momentum, and seasonal trends favoring equities.
The DAX held firm during Wednesday’s session despite broader market swings, maintaining its consolidation phase and attracting dip buyers near key support levels.
Industry-leading profit margins and two exciting revenue-driving developments have shifted the investment case. A buy following post-earnings slump for Garmin?