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.
NZD/USD reversed its early gains after encountering resistance near 0.5650, extending a pattern of failed recovery attempts.
EUR/USD traded erratically on Thursday as investors prepared for the US nonfarm payrolls report, with the author maintaining a bearish outlook amid concerns about European energy inflation and interest-rate differentials.
AUD/USD reversed its initial gains after encountering resistance around the 50-day EMA, with the 0.7050 level continuing to limit upside momentum.
USD/CAD bounced from a significant support area where the 200-day EMA, 61.8% Fibonacci retracement and previous resistance converge.
GBP/JPY pulled back slightly as resistance near ¥214 limited further gains, but the wider bullish outlook remains supported by the interest-rate differential between the British pound and Japanese yen.
USD/MXN remains range-bound between support at 18.50 and resistance at 19.00 as traders await Friday's US nonfarm payrolls report.
XRP is down around 13% over the past four weeks, continuing the slide that began when it lost the $1.40 level it had been defending. The decline has been steady rather than sudden, a slow bleed that has pulled price down to the $1.30 area.
USD/CHF recovered from an initial decline following the US midterm elections, with the interest-rate differential continuing to favor the dollar.
Metadescription: Gold rebounds as the dollar weakens and US bond yields ease. Can buying momentum persist, or could resistance and renewed market stress interrupt the recovery?
Bitcoin recovered to approximately $80,510 following the US midterm elections, rebounding from this week's low near $75,800 as risk appetite improved
AUD/USD Forex Signal: Bulls Eye a Break Above 0.7020
GBP/USD climbed toward 1.3500, its highest level since mid-September, as traders prepared for the Bank of England's anticipated interest-rate increase. Technical indicators continue to favor further gains toward 1.3600
After showing a rather steady ability to create a trajectory lower, suddenly traders have been dealt an opportunity to pursue a reversal in the EUR/USD.
EUR/USD traded in a narrow range near 1.1234 as investors awaited Friday's US nonfarm payrolls report.
USD/CAD declined on Wednesday as improving global risk sentiment supported the Canadian dollar, bringing the pair toward its 200-day EMA and 61.8% Fibonacci retracement level.
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