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 British pound has pulled back ever so slightly during the trading session on Thursday to show signs of consolidation.
The gold markets have gone back and forth during the trading session on Thursday, as we slammed into the major downtrend line that I have drawn on the chart.
The Australian dollar has pulled back a bit during the trading session on Thursday, as the 0.75 level has offered a bit of resistance.
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The West Texas Intermediate Crude Oil market has pulled back quite a bit after an extended run over the last couple of weeks.
The USD/BRL continues to traverse need important mid-term highs, and may entice speculative positions from traders who think they know the Forex pair’s short-term direction.
The recent decline of the US dollar allowed the price of gold to move higher and stabilize around the $1790 resistance level for 3 trading sessions in a row.
The British pound continues to rise, with only one loss out of the past five sessions.
The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.
The Japanese yen appears to be at the mercy of US inflation expectations, which means that current selling is likely to stop unless expectations of US interest rate hikes persist.
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The USD/MXN has traversed lower again and is within sight of an important support juncture as its short-term bearish momentum has proven to be strong.
XRP/USD gained yesterday with a rather robust amount of velocity as it nearly hit the 1.16500 mark before reversing slightly downwards.
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The ETH/USD rocket ship has found and used a higher gear in the past day, climbing past the 4000.00 juncture and seemingly waving farewell to gravity.
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Bearish retracement within a strong bullish trend.
The West Texas Intermediate Crude Oil market fell significantly to kick off Wednesday, as traders were looking to work off some of the massive gains.
The US dollar fell again against the Canadian dollar as the oil inventory numbers came out much more bullish than anticipated.