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 GBP/USD finished the week near the 1.25700 level, as the lower range of the currency pair continues to see plenty of tests and nervous sentiment appears to be creating headwinds.
The holiday week sees a quiet Forex market favouring the US Dollar and punishing commodity currencies, while stock markets advance before taking a knock at the end of the week.
Markets show mixed activity with Gold holding an uptrend, currency pairs staying range-bound, Bitcoin faltering, and indices subdued amid holiday trading.
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This past Friday WTI Crude Oil finished the week within eyesight of the 70.000 USD mark, but the closing price of nearly 69.875 was close to the previous week’s close of 69.500.
The Euro sees a modest bounce but faces strong resistance at 1.06, as political instability and economic slowdown in the EU favor continued bearish pressure.
GBP/USD remains lackluster near 1.25, with thin trading favoring sideways movement and potential downside as interest rate dynamics support the US dollar.
USD/CHF stabilizes at 0.90 as rising US bond yields and Swiss National Bank rate cuts support a bullish outlook, with dips seen as buying opportunities.
CAD/JPY edges toward the crucial 110 resistance zone, driven by yen weakness and support near the 50-day EMA, but faces challenges in breaking higher.
USD/MXN holds steady above 20 pesos support, with upside potential limited near 21 pesos amid Mexican economic struggles and pending US policy clarity.
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Ethereum stalls below $3,600 resistance, with support at $3,000, as holiday trading and Bitcoin's influence shape its short-term direction.
Bitcoin consolidates below $100K, with key support at $88K-$90K, while a breakout above $100K could target $108K amid strong technical and psychological factors.
WTI crude oil trades sideways near key levels, with resistance at $72.50 and support at $65, awaiting demand recovery and economic growth signals in 2025.
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Gold stabilizes near $2,600, facing resistance at $2,700 amid rising US yields and holiday liquidity challenges, hinting at sideways trading.
Silver consolidates near $30, with buyers defending key support at the 200-Day EMA, while resistance at $30.60 and industrial demand pressures shape its outlook.
USD/TRY rises to 35.29 amid Turkish lira weakness, with Central Bank policy shifts and rate cuts driving bullish momentum toward 35.50 and 35.70 targets.