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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During the early part of the session on Wednesday, we've seen the British pound rally quite nicely, but it has given back quite a bit of those gains as we continue to hang around the crucial 1.77 level.
The West Texas Intermediate crude oil or the US oil markets initially tried to rally during the trading session on Wednesday, but the $70 level has caused a bit of a headache.
The USD/RUB continues to challenge higher price levels and yesterday’s value 101.0760 approached levels not seen since October 2023, and the currency pair remains within an apex speculative realm.
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The USD/MYR has produced a reversal the past handful of days after touching a high last Thursday around the 4.4890 ratio, but the lower move can be considered fragile.
In my daily analysis of exotic currencies, the USD/NOK level has captured my attention as we had initially dipped below the 11 NOK level.
In my daily analysis of major currency pairs, the USD/CHF pair continues to see a lot of love, and it does continue to be one of the better performers.
During my daily analysis of the GBP/USD pair, the first thing I notice is that we did try to rally, but it seems like above the 1.27 level, the sellers came in and really started to push the markets again.
During my daily analysis of the gold market, the resiliency has become apparent. We initially did pull back during the trading session.
During the trading session on Wednesday, the US dollar has continued its consolidation against the Malaysian ringgit, as we are sitting just below the crucial 4.5 MYR level, which also features the 200 Day EMA.
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The AUD/USD pair pulled back in the overnight session as the US dollar index (DXY) and government bond yields jumped.
The GBP/USD exchange rate remained under pressure after the stronger UK inflation numbers published on Wednesday.
The EUR/USD exchange rate resumed its downtrend after the European Central Bank (ECB) warned about a potential debt crisis and slow growth in the region.
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Bitcoin has continued its bullish run, albeit at a slower pace, making a new record high just short of $100k and threatening to reach and possibly break that level soon.
For three consecutive trading sessions, the gold price has been moving within an upward rebound, with gains reaching the resistance level of $2642 per ounce, the highest price in a week.
For four consecutive trading sessions, the EUR/USD currency pair has been attempting to rebound and recover from its lowest levels in a year, which reached the support level of 1.0496 at the end of last week.