Gold retreated to $2563 after almost hitting a new record high of $2600/oz as investors digested the latest US Federal Reserve decision.
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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Recent trades have seen the British Pound rise to near $1.33, its strongest level since February 2022, benefiting from the general weakness of the US dollar.
The EUR/USD currency pair jumped to its highest level in three weeks at the resistance level of 1.1189 following a larger-than-expected US interest rate cut.
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The Euro initially tried to rally a bit against the US dollar in early trading on Wednesday, but as we creep towards that FOMC interest rate decision statement and press conference, it looks like a little bit of the bullishness is starting to come out of this market.
The USD/ILS had been trading rather comfortably around the 3.74500 vicinity on Tuesday of this week when news from the region once again became a focus for financial institutions.
The US dollar initially rallied a bit during the early hours on Wednesday against the Russian ruble, but it faces a pretty significant resistance barrier just above.
The U.S Fed interest rate cut of 0.50% on Wednesday caused an immediate jump higher in the NZD/USD.
The FTSE 100 has slipped a bit, testing the 50 Day EMA indicator.
It's clear that there is more risk appetite out there, especially now that the Federal Reserve has decided to cut interest rates by 50 basis points.
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The Australian dollar rallied slightly during Wednesday’s session, but traders are now focused on the upcoming FOMC statement, interest rate decision, and, most importantly, Jerome Powell’s press conference.
During the trading session on Wednesday, I have noticed that the New Zealand dollar has rallied quite nicely against the Singapore dollar.
The natural gas market initially did rally during the day on Wednesday but has seen a lot of noise right around the $2.60 level.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar pulled back slightly during the early hours on Wednesday as we continue to hang around the 0.84 level.
We have bounced from a fairly significant support level.
The GBP/USD exchange rate popped to a high of 1.3296 in the overnight session after the Federal Reserve delivered a jumbo interest rate cut.