Gold prices are attempting to stabilize above $3300 amid fading safe-haven demand and rising dollar strength, with $3400 acting as critical resistance.
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 USD/MYR continues to decline toward support at 4.2000, with bearish pressure building ahead of key U.S. GDP data and possible Fed rate cuts.
The NZD/USD continues its bullish climb toward 0.6080 as USD weakness and potential Fed rate cuts support higher valuations.
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USD/ZAR continues to hover near the 17.65 support level, with a possible double bottom signaling a rebound if the dollar strengthens further.
Silver found support at $35.50 on Wednesday, reinforcing its bullish trend with a potential breakout toward $37 and possibly $40 if momentum continues.
Copper prices hovered below the $5 resistance level on Wednesday, highlighting global economic uncertainty and weak demand signals from China.
Bitcoin rebounded on Wednesday, staying within its consolidation range, with traders eyeing a breakout above $112,000 to signal a continuation to $120,000.
Gold prices stabilized on Wednesday after a sharp drop, hovering near key support with external factors like Middle East tensions and USD strength shaping outlook.
The memecoin continues to trade in a tight range between $0.00001151 and $0.00001177, suggesting low volatility and indecision among traders as the broader market seeks direction.
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A bullish technical trend, supported by solid fundamentals in an uncertain economic environment marked by persistent inflation, presents an appealing medium-term buying opportunity in Walmart.
The S&P 500 eased slightly on Wednesday after recent gains, with traders watching for a potential bounce near 6,000 as bullish momentum remains strong.
Despite a pullback from record highs, the NASDAQ 100 remains in a strong uptrend, with dips like the 22,000 level viewed as potential buying opportunities.
The Euro is threatening a breakout above 1.1650 against the US dollar, supported by falling US yields and bullish momentum signals.
The USD/CAD pair rallied toward 1.3750, showing bullish momentum despite overall dollar weakness, with a potential breakout targeting the 1.39 level.
Ethereum remains range-bound at $2,400, with traders eyeing Bitcoin's next move to determine whether ETH will rally or drop toward $2,000.