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 GBP/USD pair made a strong bullish breakout ahead of a busy week in the market when the Fed and BoE will deliver their decisions.
Bitcoin looks difficult to predict today, but there is a weak medium-term bullish trend and a market nervous of being long of the USD, so looking for long trades may be the better bias.
The EUR/USD exchange rate continued rising after the European Central Bank (ECB) delivered its second interest rate cut and as the Federal Reserve prepared for its first cut in over four years.
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USD/INR pair has pulled back rather significantly.
The CAC 40 hangs around the €7500 level, which is an area that is of course a large, round, psychologically significant figure, and of course an area that we have seen a lot of action at previously.
The GBP/USD pair does in fact look very bullish.
The first thing I see is that this asset has rallied quite nicely, but it is still very much in a range that is somewhat well-defined.
The CAD/JPY pair looks like it is hanging on by a thread.
The Turkish lira depreciated against the US dollar during today's trading, following limited gains recorded by the Turkish currency over the past weekend.
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At the beginning of this week, the GBP/USD pair was trading around $1.3158, up by about 0.2% from the previous Friday's levels.
The Japanese yen has risen to around 139.80 against the US dollar in thin trading today, Monday, hovering near its highest levels since July 2023 amid a widening divergence in monetary policy between Japan and the United States.
The European Central Bank cut interest rates by 25 basis points at its meeting last Thursday, as expected.
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At the beginning of this week, the price of gold rose to around $2590 per ounce, setting a new all-time high, supported by the weakness of the US dollar and the decline in bond yields amid growing expectations of a significant cut in US interest rates this week.
During the trading session on Friday, we've seen the US dollar drop pretty significantly against the Japanese yen, dropping below the 141 yen level.
The Australian dollar pulled back just a bit during the course of the trading session on Friday but does now look as if it is trying to see a little bit of support near the 0.5650 level.