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 US dollar dropped to kick off the week, but has since bounced back a bit to show signs of resilience.
The Euro has seen a lot of noise lately, but with the US rates rising in early Monday trading, the only direction was down.
The German index did fall to kick off the trading session on Monday, as the yields in Germany continue to be “sticky.”
The gold market dropped a bit in the early part of the Monday session, as we continue to see interest rates move the metals markets.
The silver market has seen quite a bit of volatility over the last several weeks, and unfortunately, I don’t think this changes anytime soon.
The Australian dollar fell against the US dollar, as the markets continue to fight bad headlines, and of course, higher interest rates in America.
The Bitcoin market continues to look strong overall, and on Monday, has risen yet again. This is despite the fact that the risk appetite of many traders will have been damaged by the war in the Middle East.
The US dollar has rallied a bit during the session on Monday, as it is bouncing from an important level previously. This is a market that I continue to look at from a short-term perspective.
The Nasdaq 100 has been very volatile during trading on Monday despite the fact that the markets are watching interest rates rise overall.
The US dollar rose in value against the Swiss franc on Monday, as we continue to see the interest rates in America drive where we are going.
The GBP/USD pair has pulled back this week as investors remained concerned about the rising geopolitical tensions between the US and Iran. It dropped to the important support level at 1.3500 from this month’s high of 1.3656.
The EUR/USD exchange rate retreated slightly as geopolitical risks rose, pushing crude oil prices higher. It dropped to 1.1690 on Tuesday, down slightly from last week's high of 1.1850 as focus shifts to the upcoming Christine Lagarde speech and US macro data.
Bitcoin price held steady above the important resistance level at $80,000 as the recent momentum continued. The BTC/USD pair was trading at 80,500 on Tuesday, its highest point since January 31st. It has risen substantially from the lowest level this year.
As of this morning the USD/MXN is around the 17.45425 ratio with fast changes of value being displayed as full volume is awaited on after the May 1st banking holiday in Mexico.
The USD/ZAR is near the 16.62430 ratio as of this writing, this after touching an early morning low around the 16.50000 vicinity when trading began, but caution has been sparked again and thus the reversal higher.
