The price of WTI Crude Oil finished last week with higher prices going into the weekend near the 63.470 level, this after touching a low around 61.430 on Monday the 18th of August.
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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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Major markets react to Powell’s Jackson Hole speech. Explore key levels and trends in forex, crypto, gold, and indices for the week of Aug 28.
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The NASDAQ 100 is consolidating near trendline support at 23,250, with upside potential toward 24,000 while 22,500 remains critical downside risk.
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The British pound is rallying against the yen, testing the 200 level as support from the 50-Day EMA keeps the bullish trend intact ahead of Powell’s speech.
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USD/CAD rallied above the 200-Day EMA, with buy-the-dip sentiment aiming for 1.40 while Powell’s Jackson Hole speech could spark volatility.
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The British pound dropped against the US dollar, with bearish pressure targeting 1.3250 while resistance at 1.36 caps upside ahead of Powell’s Jackson Hole speech.
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USD/CHF is testing the 0.81 area with bullish potential toward 0.82, while Powell’s Jackson Hole speech looms as the key catalyst for volatility.
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Gold continues to find support at the 50-Day EMA, with bulls eyeing $3,500 resistance while $3,200 remains the key level that could shift the trend.
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Bitcoin faces selling pressure near $112K, with downside risks toward $110K as traders await Powell’s Jackson Hole remarks for market direction.
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WTI crude oil bounced Thursday but faces resistance at $65 and remains vulnerable to downside toward $62 amid oversupply and global demand concerns.
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Silver bounced from the $37.50 support level, with bullish momentum intact while traders await Jackson Hole for cues on dollar-driven direction.
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Natural gas bounced on Thursday, but rallies face resistance near $3.20 while bearish pressure points to potential declines toward $2.50.
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EUR/USD consolidates near 1.1625 with a bearish bias, as traders await Eurozone PMI data and Powell’s Jackson Hole remarks for direction.
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Gold (XAU/USD) slips to $3,335 support as the dollar strengthens, with traders eyeing Jackson Hole for Fed policy signals and key levels at $3,310–$3,410.
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NZD/USD trades near 0.5819 as bearish pressure builds. Support sits at 0.5817, resistance at 0.5823, with Jackson Hole in focus.
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