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 EUR/USD exchange rate pulled back, ending a strong rally that started earlier this month when it settled at 1.0667.
The AUD/USD exchange rate continued its downtrend on Monday as the US dollar recovered.
Last week, market sentiment was sour, and stocks fell quite strongly, especially in the USA. Analysts saw strong and heavy rotation following higher perceived odds of a Trump presidency, while the US dollar strengthened into an area of key resistance.
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WTI crude oil price continued its downward trend that started on July 5th and settled at $78.57, its lowest point since June 17th.
The EUR/USD started last week in an upbeat tone as hopes of Federal Reserve interest rate cuts rose.
Get the weekly Forex forecast for major currency pairs for the week of July 22-27, 2024 here.
In my daily Euro against Swiss Franc analysis, it's easy to see that we are at a major inflection point.
Despite the fact that the ECB didn't do anything and the Euro lost ground against several other currencies, it has turned around against the Japanese Yen.
In my daily analysis of the dollar against the peso, it's easy to see that there is still a lot of volatility happening around the 50-day EMA.
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In my daily US dollar against Norwegian Krone analysis, it's easy to see that the US dollar has really taken off a bit during the session on Thursday.
In my daily analysis of the Chinese yuan, I can see that the US dollar continues to hang around the 7.27 level, an area that obviously has been important multiple times.
The ASX 200 looks very exhausting at this point in time in my daily analysis, as I believe this asset remains positive, but at the same time it may have overstretched its momentum.
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This is a pair that continues to pressure the upside, and I think it’s probably only a matter of time before we truly find a lot of momentum entering this market.
In my daily NZD/CHF analysis, it’s easy to see that we are at an overstretched condition to the downside, so it’ll be interesting to see how the Swiss franc behaves.
I can see that we are attempting a bit of a recovery, and it would make a certain amount of sense that the market will be very noisy and perhaps a bit of a stretch to the downside.