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 pair remained sluggish after last Thursday’s Bank of England (BoE) interest rate decision and the strong UK GDP report.
Bitcoin’s deep slumber continued during the weekend amid a lack of a clear catalyst to propel it higher.
The AUD/USD pair pulled back on Monday morning after an encouraging statement from Australia’s Treasury Department on inflation.
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Risk-on sentiment continued to grow during most of last week before souring somewhat Friday with the release of declining consumer sentiment and expectations of higher short-term inflationary pressure in the USA.
The ability of the GBP/USD to climb back from lows around the 1.24460 ratio seen on Thursday may spur speculators with a buying interest.
WTI Crude Oil finished the week of trading slight below its starting point last week.
Get the weekly Forex forecast for major currency pairs for the week of May 13-18, 2024 here.
The US dollar has gone back and forth during the course of the trading session against the Japanese yen on Thursday, as we have seen the weekly Unemployment Claims in the United States surprise to the upside.
Silver rallied significantly during the course of the trading session on Thursday, breaking above the $27.50 level at one point, only before it turned around to show signs of exhaustion.
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The DAX in Germany took off to the upside during the trading session on Thursday as we have now broken above the crucial €18,500 level.
The British pound initially fell during the trading session on Thursday against the Japanese yen but has since turned around despite the fact that there are members at the Bank of England that have voted to cut rates.
The US dollar has rallied slightly during the trading session on Thursday against the Israeli shekel, as the overall action over the last couple of months have suggested a bit of a “bullish flag” setting up.
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Gold has been somewhat choppy during the early hours on Thursday, which quite frankly is a repeat of the last several days in a row.
The Nasdaq 100 pulled back slightly during the early hours on Thursday, but at this point in time, it looks like a market that's just trying to digest some of the massive gains that we had seen so far.
Bitcoin pulled back just a little bit during the trading session on Thursday, as we continue to look at the $60,000 level as a potential support level.