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/TRY pair has fluctuated during today's trading, moving within the same range as it has throughout the current week.
Since the beginning of this week, the EUR/USD currency pair has been attempting to recover from its year-low, but rebound gains have not exceeded the 1.0609 level, and it is currently stabilizing around 1.0548 at the time of writing this analysis.
The Japanese yen's gains continued to weaken on Tuesday as uncertainty surrounding the future of the Bank of Japan's policy pushed the USD/JPY pair down to 153.28.
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The gains made yesterday by the GBP/USD currency pair to the resistance level of 1.2715 quickly evaporated.
Since the beginning of this week, the gold price has been on its broader upward trajectory, stabilizing around the resistance level of $2666 per ounce.
The German index initially did try to rally during the trading session on Wednesday, but by breaking above the 50 day EMA, it ran into a lot of resistance.
The Australian dollar initially did rally a bit during the trading session on Wednesday but found quite a bit of resistance above as we continue to see a lot of noisy behavior.
The S&P 500 initially did try to rally during the trading session on Wednesday but has turned around to fall towards the 5,880 level again.
During the early part of the session on Wednesday, we've seen the British pound rally quite nicely, but it has given back quite a bit of those gains as we continue to hang around the crucial 1.77 level.
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The West Texas Intermediate crude oil or the US oil markets initially tried to rally during the trading session on Wednesday, but the $70 level has caused a bit of a headache.
The USD/RUB continues to challenge higher price levels and yesterday’s value 101.0760 approached levels not seen since October 2023, and the currency pair remains within an apex speculative realm.
The USD/MYR has produced a reversal the past handful of days after touching a high last Thursday around the 4.4890 ratio, but the lower move can be considered fragile.
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In my daily analysis of exotic currencies, the USD/NOK level has captured my attention as we had initially dipped below the 11 NOK level.
In my daily analysis of major currency pairs, the USD/CHF pair continues to see a lot of love, and it does continue to be one of the better performers.
During my daily analysis of the GBP/USD pair, the first thing I notice is that we did try to rally, but it seems like above the 1.27 level, the sellers came in and really started to push the markets again.