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 DAX fell significantly during the course of the trading session on Thursday, as went now looks like we are threatening the 50-Day EMA indicator.
The crude oil markets have been very noisy over the last several days, and at this point in time it’s obvious to me that the market is going to continue to search for some type of stability.
The Aussie dollar rallied significantly during the early hours on Thursday, and it looks like we are going to continue to see a lot of volatility.
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The British pound initially rally during the trading session on Thursday but seems to be looking at the 1.25 level as a major barrier that’s all but impossible to stay above for any significant amount of time.
Gold initially fell during the trading session on Thursday, but then turned around to show signs of life.
The US dollar initially fell against the Canadian dollar during the early hours on Thursday, but then turned around to show signs of strength again.
The Nasdaq 100 has gone back and forth during trading early on Thursday as we continue to try to find some type of footing for this market to turn things around.
The S&P 500 was fairly quiet in the early hours on Thursday and as we continue to try to sort out where we are going next.
The euro rallied a bit during the trading session on Thursday, breaking above the 1.37 level.
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Trading of the USD/TRY remained stable during morning trading today, Thursday, with the pair seeing no significant changes throughout the current week.
The Japanese yen witnessed further weakness against its counterpart, the US dollar, falling to its lowest level in over three decades.
Gold prices pared losses after weaker-than-expected US business activity data helped bolster the case for Fed rate cuts this year.
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According to recent trading activity, GBP/USD has been on the rise, easing some recent selling pressure.
After gains this week, the EUR/USD exchange rate is expected to be better protected against further weakness.
The heights in value now being traded in the USD/JPY are touching levels not seen since May of 1990.