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.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 9th, 2022 here.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
The S&P 500 encountered difficulties during Thursday's trading session due to unexpected ADP employment numbers that came in twice as high as anticipated.
The gold market experienced a back-and-forth trading session on Thursday, influenced by unexpected ADP numbers that were nearly double the anticipated figures.
The silver market experienced a sharp decline during Thursday's trading session, briefly dipping below the 200-Day Exponential Moving Average.
The WTI and Brent markets have witnessed a back-and-forth trading session, with both facing significant resistance at the 50-Day Exponential Moving Average.
Natural gas markets have done very little on Thursday, while it looks as if we are simply going to see the market hang around and test the 50-Day EMA.
The USD/JPY experienced a decline on Thursday, as market participants took profits after an extended period of upward momentum.
The GBP/JPY demonstrated remarkable resilience during Thursday's trading session, bouncing back after initially experiencing a significant decline.
The EUR/USD experienced a lack of clear direction during Wednesday's trading session, remaining trapped between the 50-Day Exponential Moving Average and the 1.09 level.
The GBP/USD exhibited a significant rally during Thursday's trading session, showcasing considerable strength.
The AUD/USD made an initial attempt to rally during Thursday's trading session, encountering a hurdle at the 50-Day Exponential Moving Average.
The TRY/USD traded stable against the dollar for the second week in a row, indicating the intervention of government banks to maintain the price of the lira, albeit in a less strong way than it was previously.
The return of the US Central Bank’s emphasis on the future of raising interest rates, despite its recent decision to maintain US interest rates, helped the US dollar achieve its gains.
