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 difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 30th, 2023 here.
The S&P 500, not being a market-cap weighted index, saw a notable uptick in electronic trading overnight after Meta beat estimates and rose by an impressive 6.4% in after-hours trading.
In the trading session on Thursday, silver exhibited a notable rally, catching the attention of market participants.
During the latest trading session on Thursday, the gold market found itself grappling with the impact of key decisions from both the Federal Reserve and the European Central Bank.
During the Thursday trading session, the focus is firmly set on the European Central Bank (ECB) as rumors of an interest rate hike circulate in the financial markets.
In the Thursday trading session, the natural gas market witnessed a slight decline during early electronic trading.
The USD/JPY faced initial weakness against the Japanese yen but managed to stage a comeback during Thursday's trading, displaying signs of renewed strength.
Crude oil markets experienced a notable rally during Thursday's trading session, hinting at a potential breakout.
During the Thursday trading session, the GBP/JPY experienced a slight pullback, a temporary setback that is likely to be followed by a bounce back, showcasing the currency's resilience in the forex markets.
During Thursday's trading session, the British pound made an initial attempt to rally, touching the 1.30 level before facing a pullback.
The AUD/USD demonstrated strength during Thursday's trading, surpassing the 0.68 level in early sessions.
The TRY/USD maintained its stability during early trading this morning.
The price of the euro against the US dollar, EUR/USD, interacted with yesterday's important event, which was the US Federal Reserve's announcement to raise interest rates by a quarter of a point, as was expected.
