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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Bitcoin experienced a slight pullback during the recent trading session, showing signs of confusion following the announcement of the ETF.
The British pound initially tried to rally during the day on Monday but has given back the gains to show hesitation to breach the major resistance barrier just above in the form of the 1.2750 level, an area that has proven itself to be worthy of note more than once.
The S&P 500 had a rather subdued electronic trading session overnight due to the observance of Martin Luther King Jr. Day in the United States, which kept the underlying index closed for regular trading.
Silver has maintained a relatively stable position in recent trading sessions, with limited changes observed.
The natural gas market showed limited activity on a recent Monday session, which aligns with expectations due to the observance of Martin Luther King Jr. Day in the United States, resulting in reduced trading hours in the futures markets.
The Euro's recent performance can be described as Brownian motion, characterized by motion without a clear direction—essentially, a state of nothingness.
Crude oil markets experienced a decline in trading activity Monday, due to the observance of Martin Luther King Jr. Day in the United States.
The USD/MXN is trading near important lower values as it remains slightly above important support levels and speculators likely decide on their wagers.
In early trading this morning the USD/ZAR has come off highs produced when the day began.
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The British pound closed the week higher against the euro and the US dollar, supported by news that the UK economy rebounded in November.
The euro weakened against the pound and the dollar at the end of last week, after ECB President Christine Lagarde signalled that the central bank could cut interest rates.
Last Friday, Gold futures recorded their biggest single-session gain since mid-December, driven by concerns over wider-ranging tensions in the Middle East.
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Sign up to get the latest market updates and free signals directly to your inbox.Trading last week was mostly bullish for the performance of the USD/JPY, where it surged towards the resistance level of 146.41.
The Dow Jones Industrial Average pulled back rather significantly later in the day after initially rallying due to a weaker than anticipated PPI number.
Gold markets showed significant strength on Friday, responding to weaker-than-expected PPI numbers, contrasting the previous day's CPI data which was slightly stronger.