The USD/ZAR is near the 16.02000 level early this morning as global financial markets have turned dynamic and Forex has provided day traders fast speculative conditions.
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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EUR/USD bullish, hits 1.1897. Signals: Buy @ 1.1760, Sell @ 1.1960. Weak USD & Fed anticipation drive gains. Sell near 1.2000 resistance advised.
Gold hits record $5110; trend strongly bullish. Trading signals: Buy @ $4940, Sell @ $5220. Weak USD & geopolitics drive rally. Buy pullbacks advised.
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The GBP/USD exchange rate jumped to the highest level since September last year, continuing an uptrend that started in November last year when it bottomed at 1.3017. It rose after the UK published strong macro numbers, raising the odds of a Federal Reserve and Bank of England divergence.
The EUR/USD exchange rate continued its recent rally and crossed the important resistance level at 1.1805 as the US dollar retreated and as the Greenland crisis eased. It has jumped by 2.10% from its lowest point this month.
The Australian dollar continued its strong upward momentum as investors reacted to the latest jobs numbers, which raised odds of an interest rate hike. The AUD/USD pair rose to a high of 0.6900, its highest level since September 24. It has soared by over 16% from its lowest in April last year.
Tensions between the USA and the EU seem to have resolved, but war drums continue to beat over Iran, as high volatility finally returns to the Forex market, while Silver and Gold soar to new record highs.
The EUR/USD jumped on Friday and went into the weekend around the 1.18263 ratio, this after trading near highs which were testing the 1.17500 resistance mark most of the week.
The price of WTI Crude Oil jumped on Friday before going into this weekend and finished near 61.290, which in the historical scheme of things still represents a rather cheap value for the commodity.
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The US dollar remained quiet against the Mexican peso on Thursday, with the carry trade favoring downside momentum and the 17.50 level offering support.
The US dollar fell against the Swiss franc Thursday as the pair remains range-bound, with traders closely watching for potential SNB intervention near 0.79.
The US dollar dropped significantly against the Norwegian krone Thursday, pressured by rising Norwegian inflation, stronger oil, and ongoing risk sentiment shifts.
GBP/USD continues to struggle below the key 1.35 resistance level, with signs of exhaustion offering potential short opportunities targeting 1.3310.
The US dollar rallied against the Japanese yen ahead of Friday's BoJ meeting, with traders watching for dovish signals that could spark a move to 160.