The GBP/USD exchange rate has pulled back sharply ahead of a relatively busy week ahead.
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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The EUR/USD retreated on Monday as geopolitical risks continued rising and as US bond yields continued retreating.
The BTC/USD pair remained in a consolidation phase in the past few days as investors wait for the next key catalyst.
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Aussie is poised to benefit if risk-on sentiment strengthens.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of October 15th, 2023 here.
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.
The S&P 500 experienced a tumultuous trading session on Thursday, initially attempting to rally but later retracting gains in response to the release of hotter-than-anticipated Consumer Price Index (CPI) figures.
The gold market experienced a rollercoaster ride during Thursday's trading session, reflecting the unpredictability caused by a surprising surge in the Consumer Price Index (CPI).
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The crude oil market demonstrated resilience during Thursday's session, rebounding after filling the gap from earlier in the week.
The GBP/USD encountered a setback during Thursday's trading session as the Consumer Price Index (CPI) figures exceeded expectations.
The AUD/USD embarked on a brief rally during Thursday's trading session, only to encounter substantial resistance.
The USD/JPY exhibited a modest rally during Thursday's trading session, signaling a continued "buy on the dips" sentiment that has prevailed in the market.
Silver saw an early rally during Thursday's trading session, although it encountered resistance as it approached the crucial $22.50 mark.
The natural gas market experienced a mild retracement during Thursday's trading session, as it approached the 200-Day Exponential Moving Average.