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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Get the weekly Forex forecast for major currency pairs for the week of July 29- August 03, 2024 here.
In my daily NZD/JPY analysis, it’s hard not to notice that this has been like a “falling knife” as of late, and therefore sooner or later we needed to see some type of bounce.
In my daily USD/CHF analysis, it’s easy to see that the 0.88 CHF level is an area that we have a certain amount of support at.
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The US dollar has extended its run against the Canadian dollar to the upside, and in my daily analysis, I can see that this asset still favors the US dollar over the Canadian dollar.
In my daily analysis of European indices, the MIB 40 in Italy stood out. We gapped lower to plunge quite drastically, and now find ourselves well below the €34,000 level.
In my daily silver analysis, the first thing I notice is that we dropped roughly 4% overnight, as the panic and the computerized continuation of noise continues.
In my daily analysis of the S&P 500, it's obvious to me that the market continues to see a lot of volatility, but it looks like the Americans are going to pick up the ball and carry it to much higher levels.
The British pound has plunged much lower against the Swiss franc, yet again during the trading session on Thursday.
In my daily Swiss franc against Canadian dollar analysis, it's easy to see that this pair continues to plunge lower.
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In the daily Euro analysis, I can see that we initially dropped a bit only to turn around and show signs of life.
In my daily DAX analysis, the first thing I notice is that we have recovered quite a bit of the losses early in the day, and that tells me that there are still people out there willing to jump in and take advantage of cheap contracts.
The Pound Sterling briefly climbed above $1.290 after data revealed a strong expansion in UK private sector activity in July.
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Amid strong selling pressure, the USD/JPY currency pair has been on a downward trajectory throughout this week, reaching a support level of 152.14 at the time of writing
Gold prices failed to sustain their upward momentum yesterday, unable to breach the resistance level of $2432 per ounce.
The EUR/USD has continued its decline, reaching a support level of 1.0825, falling short of its four-month high of 1.094 reached on July 17.