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 EUR/USD went parabolic on Wednesday, continuing a bullish trend that started on April 14th.
The price of Bitcoin made a bullish breakout after the soft US inflation numbers sparked a risk-on sentiment in the financial market.
According to Forex market trading, the pound sterling briefly dipped before recovering to around $1.25 as traders digested recent labor data and monetary policy expectations.
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The EUR/USD is trading near its highest level in over a month ahead of the release of key US inflation data that will have a strong and direct impact on the future of Fed policy.
Gold prices are consolidating near $2360 an ounce as investors turn their attention to US inflation reports due this week.
The Japanese yen fell again, surpassing 156 yen to the dollar, hitting its lowest level in two weeks, raising concerns about the possibility of Japanese authorities intervening again to support the currency.
The gradual downturn in the USD/CAD the past week has now put the currency pair near interesting mid-term support levels.
The USD/RUB continues to correlate to the broad Forex markets in a remarkably healthy manner.
Silver is outperforming Gold, so traders should be more confident of being long of Silver than of Gold.
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The US dollar initially tried to rally against the Indian rupee but has given back quite a bit of the gains to turn slightly negative as New York came online.
The US dollar initially rallied against the Swiss franc during the trading session on Tuesday but pulled back as the 0.91 level has offered a bit of a short-term barrier.
The US dollar has been all over the place during the trading session on Tuesday against the Canadian dollar, as we continue to test a major support level.
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The New Zealand dollar has rallied rather significantly during the course of the trading session on Tuesday.
The Nasdaq 100 initially fell during the trading session on Tuesday but turned around to show signs of strength again.
The British pound initially fell during the trading session on Tuesday, reaching down toward the 1.25 level before turning around again.