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/INR pair is still a very bullish market.
I recognize that the market initially tried to rally but has fallen apart in the early hours of New York trading as the Consumer Price Index numbers came out at 0.3% month over month, hotter than the anticipated 0.2%.
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The Nikkei 225 initially pulled back during trading on Wednesday to reach down towards the 35,100 yen level.
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The EUR/GBP pair has captured my attention, as market participants continue to see a lot of volatility in this market.
The German index initially pulled back just a bit during the course of the trading session on Wednesday, only to reach down towards the 18,150 level before turning around and showing signs of life.
The GBP/AUD pair stands out as we have seen such a “brick wall” form of the 1.97 level.
The Canadian dollar initially pulled back just a bit during the trading session on Wednesday against the Japanese yen only to turn around and show signs of life.
The GBP/USD price continued its downtrend after the UK published weak economic numbers, pointing to more Bank of England (BoE) interest rate cuts.
The EUR/USD currency pair was flat after the encouraging US consumer inflation data and ahead of the upcoming European Central Bank (ECB) interest rate decision.
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The BTC/USD pair remained in a tight range as the financial market reacted to the latest consumer inflation data.
Although higher than expected US inflation data yesterday helped push the US Dollar up, the Australian Dollar continues to make strong gains against all other currencies as its role as a risk-on asset makes it attractive now.
Ahead of the release of US inflation data, the most important release before the announcement of the US Federal Reserve's decisions, the EUR/USD pair is trying to recover some of its recent losses.
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The Japanese yen has appreciated to over 141 yen against the US dollar, heading towards its highest levels this year amid divergent monetary policies between Japan and the United States.
The pound sterling remained relatively unchanged at $1.3080 as traders digest new economic data and monetary policy outlook.
As of Wednesday's opening, the gold price has stabilized at $2,527 per ounce, as markets await the US inflation report later today for clarity on the potential extent of US interest rate cuts by the Federal Reserve.