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 Euro has rallied again against the Swiss franc during the trading session on Thursday, as we are trying to get to the 50 day EMA.
The US dollar has rallied against the Indian rupee during trading on Thursday as it looks like we are trying to threaten the 84 rupee level.
The Kiwi dollar in the early hours on Thursday has fallen a bit, but it looks like we're hanging on to this 0.60 level for some type of bounce.
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In my daily analysis of the FTSE 100, the first thing I noticed is that we are getting a bit overstretched.
The West Texas Intermediate Crude Oil Market, or US Oil, has been rather noisy over the last couple of days, but on Thursday we are trying to bounce from the 50-day EMA.
The Turkish Lira fell against the US dollar during early trading on Thursday morning.
The Pound Sterling dipped to $1.28 in early trading on Wednesday, pulling back from a three-week high earlier in the month after UK inflation figures raised bets on interest rate cuts by the Bank of England.
On Wednesday, the USD/JPY currency pair exhibited volatile behavior. After rebounding towards the resistance level of 147.57, it retreated to 146.67 following the release of US inflation data, before stabilizing around 147.18 at the beginning of trading on Thursday.
Gold is trading slightly below its all-time high of $2,480 per ounce, which it reached on August 12, as markets assessed the latest price data for hints about the Federal Reserve's monetary policy outlook.
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Following the announcement of lower-than-expected US inflation figures yesterday, bulls managed to push the EUR/USD currency pair above the psychological resistance of 1.1000, with gains extending to the 1.1047 resistance level, the highest for the currency pair since the beginning of 2024.
The British pound has initially fallen against the Japanese yen in the early hours on Wednesday, only to turn around and show signs of life again.
Even as many major currencies got stronger against the USD the past couple of days (and past month and a half) the USD/INR has not correlated to the broad Forex markets.
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In our daily US dollar, Canadian dollar analysis, it's easy to see that the market is trying to see a lot of volatility come into the picture.
The German index has rallied slightly during the early hours on Wednesday as we continue to see a lot of noisy behavior and a pretty significant attempt at a recovery.
The USD/PKR remains unimpressed by dynamics in the global Forex market.