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 US dollar fell again during the trading session on Friday as traders continued to short the greenback based on the idea that the Federal Reserve may cut interest rates.
In early trading this morning the USD/MXN has been able to sustain the lower elements of its near-term depths.
The natural gas markets initially tried to rally a bit only to turn around and show a certain amount of negativity as it looks like we are going to test the $2.50 level.
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The USD/ZAR exchange rate is once again near important support which has been tested almost on a weekly basis since the third week of August.
The gold market rallied again during the trading session on Friday as the market broke well above the $2,580 level.
The US Dollar is weakening as markets increasingly expect a 50bps rate cut on Wednesday by the Fed, which is causing a weakly bullish technical picture here.
The GBP/USD exchange rate wavered on Monday morning ahead of a busy week in which the Federal Reserve and the Bank of England (BoE) will start to cut interest rates.
Bitcoin continued to consolidate around the $60,000 level as traders waited for the upcoming Federal Reserve interest rate decision.
While we did break above the 1.3150 level, we ended up giving back the gains and have closed the market with essentially what looks like a shooting star.
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The AUD/USD pair was flat on Monday morning as traders continued focusing on the upcoming Federal Reserve and Reserve Bank of Australia (RBA) decisions.
The US dollar has broken significantly to the downside to reach towards the 0.84 level.
The first thing I see is that the 1.36 level continues to be very resistive.
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It's easy to see that the US dollar falling against the Hungarian forint is something worth paying attention to.
The West Texas Intermediate Crude Oil market is that the $70 level has been like a brick wall.
Last week saw mixed sentiment and unexpectedly robust US CPI and PPI data, which cast doubt on the anticipated fast pace of approaching rate hikes by the Federal Reserve. This boosted the USD, although markets resumed moving in the direction of long-term trends by the end of the week.