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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AUD/USD: Despite a bullish surge, long term the Aussie is looking bearish with its reliance on a struggling Chinese economy
U.S financial institutions will be mostly closed today because of the Martin Luther King Jr. holiday, but USD/MXN has seen buying escalate early this morning as President Trump prepares to take office.
The West Texas Intermediate or Light Sweet Crude market has been somewhat noisy during the trading session on Friday as we continue to bounce around.
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Silver has fallen pretty significantly during the trading session on Friday, but it is trying to hang on to the 50 day EMA.
The Parisian index has gapped higher again on Friday, as we have seen quite a bit of bullish pressure in France, and we were up another full percent for the session.
The USD/ZAR has traded lower early this morning and is near the 18.68550 ratio with a wide spread been demonstrated, this as U.S financial institutions prepare for the entrance of President Trump.
A major jump may be coming if it breaks above the 0.92 level significantly as this could lead to an 800-pip move
I wrote in my previous BTC/USD forecast almost one week ago that the technical picture had more bearish, with the price printing a series of lower highs and heading towards an area of very key support above $91,000.
The GBP/USD exchange rate resumed its downward trend after the recent UK and US economic numbers. The pair dropped to a low of 1.2170 and is nearing its lowest level since October 2023. It has fallen by almost 10% from its highest level in 2024.
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The EUR/USD exchange rate was unchanged on Monday morning ahead of a data-lite week and key macro events like Donald Trump swearing in and the World Economic Forum event in Davos, Switzerland. The pair was trading at 1.0270, a few pips above this month’s low of 1.0178.
The British Pound has fallen a bit during the trading session on Friday, which in and of itself isn't surprising because we've seen it do that all week.
During my analysis of Bitcoin, the first thing that comes to the forefront is the fact that Bitcoin is rallying rather significantly, as we have broken through a significant short-term swing high, and now that we are above there, it looks like Bitcoin could continue to go looking to the upside. After all, the market had been in a major consolidation range, and now it looks like Bitcoin might go looking to get to the top of it.
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During my daily analysis of the major indices around the world, the NASDAQ 100 is always one of the first ones I look at, as it can give you a good idea as to what risk appetite might end up being. After all, these are some of the largest technology companies in the world, and therefore we need to have more of a “risk on attitude” in order to throw money at them.
During my daily analysis of the major currency pairs, the AUD/USD pair is one that has caught my attention as we are hanging around the 0.62 level. The 0.62 level is an area that’s been important multiple times, so I think you should pay close attention to what goes on here. All things being equal, looks like a market that is going to be very noisy and choppy, and of course the fact that the area previously had been important multiple times over the longer term.
The AUD/USD exchange rate remained on edge ahead of Donald Trump’s inauguration in the United States. The pair retreated below the psychological point at 0.6200, a few points above this month’s low of 0.6133.