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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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.
The first thing I see is that we had sold off early in the trading session, but we have turned around to show momentum yet again.
The first thing I notice is that the ¥36,700 level has offered a significant resistance, which is interesting considering that the market has seen that level as important multiple times.
I am paying close attention to the 8300 level, an area that has been important multiple times.
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The $2480 level has in fact offered a significant amount of resistance yet again.
The market did initially fallen during the early part of the session, only to turn around and attempt to recapture the 11.80 NOK level.
Natural gas markets have had a bullish turn of events during the early hours on Wednesday, as we continue to try to break above the 50 day EMA.
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Bitcoin has sold off again, and currently looks heavy as it sits on key support at $57,974. A further bearish breakdown seems quite likely.
The Bitcoin market initially rallied a bit during the trading session on Wednesday but continues to struggle with the crucial 50 day EMA.
The GBP/USD exchange rate wavered after the mixed inflation numbers from the UK and the United States.