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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As markets returned from the holiday, the US Dollar regained strength while European and most commodity currencies lost value. Risk sentiment continued to be sketchy despite a possible recovery at the end of the week.
Get the weekly Forex forecast for major currency pairs for the week of January 06-11, 2025 here.
The EUR/USD went into the weekend near the 1.03080 mark, this briefly testing a low around the 1.02235 ratio on Thursday while thin trading conditions prevailed.
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The past week of trading in Coffee Arabica saw relatively calm highs of nearly 330.90 on Thursday, which were preceded by lows around 313.25 on Tuesday – a price not seen since the first week of December.
WTI Crude Oil put in a week of gains and the price of the commodity actually came within eyesight of the 74.000 USD ratio on Friday, but in rather lightly traded markets that are suspect.
NASDAQ 100 pulls back after a failed rally, breaking below the 50-Day EMA with traders eyeing 20,000 support amid low liquidity and Fed uncertainty.
WTI crude oil breaks above $72.50, signaling bullish momentum with targets near $80 as rising U.S. demand and pro-business policies drive energy markets.
USD/MXN consolidates between 20 and 21 MXN, with the peso showing resilience despite economic and political pressures, while traders eye key levels for direction.
The DAX clings to €19,750 support, with bullish potential toward €20,500 as buyers find value and the index avoids a breakdown to €19,000.
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USD/JPY consolidates near ¥158, with strong bullish signals targeting ¥161.25 as buyers dominate amid robust demand for the U.S. dollar.
Gold climbs above the 50-day EMA, consolidating with a bullish bias as traders eye $2,715 resistance and await U.S. jobs data for further direction.
Natural gas prices rally on cold weather forecasts, with traders eyeing $4 resistance and potential gains to $4.50 while pullbacks offer buying opportunities.
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USD/CAD nears 1.45 resistance, with bullish momentum supported by U.S. dollar strength and Canada’s reliance on U.S. economic performance.
Bitcoin consolidates within the $90K-$110K range, with bullish sentiment prevailing as traders watch key support levels and potential for upward breakout.
EUR/USD breaks below 1.03, with potential to test parity as ECB easing, U.S. dollar strength, and global uncertainty shape forex dynamics.