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 exchange was largely unmoved and hovering near its lowest level since July 3rd, down by 5.7% from its highest level this year. Its price action happened ahead of the upcoming UK economic data.
The Forex market is finally seeing the US Dollar giving up some of its recent gains, with the price rebounding from an area that was a bullish inflection some months ago, forming an embryonic double bottom pattern.
Recently, the dollar has appreciated against the Turkish lira at the beginning of this week's trading, after the pair recorded record levels during last Friday's trading.
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At the end of last week's trading, the USD/JPY was subjected to selling, starting from the resistance level of 156.75, the highest for the currency pair in three months, with losses extending to the level of 153.86.
The US Federal Reserve's affirmation of not rushing to cut interest rates, coupled with Trump's election victory, has extended the US dollar's gains.
The British Pound's resilience against the strong US Dollar has not lasted long. Over the past six trading sessions, the GBP/USD has been subjected to selling, starting from the resistance level of 1.3008.
At the beginning of this week, the gold price is attempting to rebound to recoup its sharp losses from last week, which reached a support level of $2536 per ounce, the lowest for the gold price index in two months.
The USD/MXN is within the lower elements of its one week trend, but remains within the higher part of one month technical consideration, opening the door for a variety of speculative perspectives.
The Euro has rallied a bit against the New Zealand dollar during the early hours on Friday, and it looks like we are going to try to make a move to the 1.8050 level, an area that's been important more than once.
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Gold markets have been back and forth in a fairly quiet session on Friday as it looks like we are trying to stabilize after a significant pullback.
The Dow Jones Industrial Average fell a bit during the course of the trading session on Friday as it looks like we are trying to get down to the 43,350 level.
The New Zealand dollar has been pretty sideways during the trading session on Friday against the Swiss franc as we are trying to sort out where to go next.
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The British pound initially did try to rally during the trading session on Friday but gave back gains as it looks like we continue to struggle overall.
The USD/ZAR is trading in a higher price range as nervous financial institutions continue to show a high degree of anxious thinking regarding mid-term outlook while the new U.S leadership is considered.
Dear my daily analysis of the yen related pairs, it’s worth noting that the euro initially did try to rally, but then it plunged.