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 USD/MYR has managed to see some lower trading and is near the 4.4700 ratio at the time of this writing, this as volumes remain extremely low as holiday markets demonstrate quiet and caution.
USD/JPY remains bullish near 157.20, with traders targeting 160.00 as yen weakness deepens due to BoJ caution and US dollar momentum.
EUR/USD continues its bearish trend, stabilizing near 1.0400 support with parity in sight, fueled by US dollar strength and Eurozone economic challenges.
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Trading volume will remain very low in the USD/SGD today, but Asian banking is working which is allowing for some movement in the currency as it traverses near long-term resistance.
GBP/USD remains under bearish pressure below 1.2500, with UK economic stagnation and strong US dollar fundamentals targeting support at 1.2460 and 1.2350.
Gold prices rise post-holiday, driven by geopolitical tensions and inflation fears, with bulls targeting $2,700 as the year-end rally continues.
Ethereum trends upward toward $3,600 resistance, supported by Bitcoin's rally and ecosystem demand, with pullbacks finding support near $3,050.
The BTC/USD pair held steady above 98,000 amid low volume due to the Christmas season.
The US dollar strengthens against the yen, poised to break ¥158 and target ¥162, driven by high US yields and persistent yen weakness.
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The British pound stalls against the yen near resistance at ¥200, with support at ¥195 and potential upside toward ¥208 if the resistance barrier breaks.
The EUR/USD pair was largely unmoved on Thursday as European markets remained closed for Boxing Day.
The GBP/USD exchange rate remained relatively unchanged this week, as the forex market experienced low volumes due to the Christmas Holiday.
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The US dollar consolidates against the Canadian dollar, finding support at 1.42 while resistance at 1.45 caps gains, driven by strong US fundamentals.
During my daily analysis of the commodity markets, the gold market looks somewhat stable, despite the fact that it was Christmas Eve, and of course liquidity might’ve been almost nonexistent.
The euro continues to weaken, nearing 1.03 support as dollar strength dominates, driven by rising US rates and economic and political instability in Europe.