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 exchange rate pulled back sharply last week after the Bank of England (BoE) delivered its interest rate decision. It retreated from the year-to-date high of 1.3877 to the current 1.3612 as investors focus on the upcoming UK GDP and US jobs numbers.
The EUR/USD exchange rate pulled back last week as the US dollar staged a mild recovery and after the European Central Bank (ECB) delivered its interest rate decision., which aligned with what analysts were expecting. It was trading at 1.1820, down significantly from the year-to-date high of 1.2080.
The AUD/USD exchange rate held steady above the key resistance level at 0.700 as investors priced in a potential Federal Reserve and Reserve Bank of Australia (RBA) divergence. It rose to a high of 0.7030, a few points below the year-to-date high of 0.7095.
Precious metals continue to consolidate following their burst bubble, while the Australian Dollar and Japanese Yen are the two most interesting major currencies in the Forex market, as dinosaur stocks take their turn to shine.
The EUR/USD finished Friday’s trading near 1.18141, which was above lows seen earlier in the day near 1.17665, but well below highs produced last Monday near the 1.18750 vicinity.
WTI Crude Oil finished the week’s trading near the 63.490 ratio as the commodity established a center of gravity again and showed the market within polite equilibrium per its trading results.
Weekly market forecast analyzing S&P 500, forex pairs, DAX, and global indices, highlighting key levels, trends, and trading expectations.
Despite short-term exhaustion, USD/JPY remains in a strong uptrend, with interest rate differentials favoring buyers on pullbacks toward key support zones.
The USD/CHF pair remains stuck below 0.78 as traders await potential Swiss National Bank action, with markets eyeing a breakout or deeper pullback soon.
The S&P 500 fell to test key support at 6800 on Thursday, with traders eyeing a potential bounce as earnings season continues to influence sentiment.
Bitcoin plunged below $70,000 on Thursday amid rising bearish pressure, with on-chain data signaling deeper losses and a potential return to crypto winter.
The Australian dollar weakened Thursday, trading in a tight range between 0.69 and 0.71 as markets assess RBA rate outlook and China’s economic momentum.
Silver prices plunged Thursday, testing the critical $70 level as volatility surged, with traders eyeing a possible breakdown that could spark a deeper correction.
The British pound fell sharply after the BOE decision, testing the 1.35 support as USD strength and central bank uncertainty cloud near-term direction.
The NZD/USD pair remains range-bound near 0.60, with risk appetite and strong resistance at 0.61 likely to dictate the next move.
