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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As expected, the GBP/USD pair has been heavily impacted by the minutes from the Federal Open Market Committee (FOMC) meeting
Bitcoin continued falling during the overnight session as odds of a more hawkish Federal Reserve rose.
The US Dollar has continued to strengthen, but this currency pair has reached an area just above $1.3000 of several tightly packed support levels, so will likely struggle to fall much further
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The NZD/USD has sustained a near-term bearish trajectory which brought the currency pair to the 0.60500 level yesterday, after 0.50 interest rate cut by the Reserve Bank of New Zealand Wednesday.
The euro initially tried to rally a bit during the trading session on Wednesday and as a result sellers came in and pushed this market lower.
During my daily analysis of the USD/CHF pair, the first thing I notice is the 0.86 CHF level, which is crucial as we have seen it offer resistance multiple times.
During my daily analysis of the gold market, the first thing I see is that we continue to look at the $2600 level as a massive support level.
In my daily analysis of yen related pairs, the AUD/JPY pair continues to be one that I watch, especially as we are hanging around in a massive, large, round, psychologically significant figure in the form of the ¥100 level.
The British pound has been on a sluggish path this week, recovering its previous losses to become the best performer yesterday, Tuesday.
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The USD/MYR continues to see some buying activity as behavioral sentiment has turned cautious the past week and a half in the currency pair.
Amidst selling pressure, the EUR/USD exchange rate is expected to witness further losses in the coming days and weeks, as some analysts see that a return to the 1.0780 support level is not impossible.
The Japanese yen remained weak at around 148.55 yen per US dollar on Wednesday after falling to its lowest level in seven weeks in the previous session, as investors continued to assess the Bank of Japan's monetary policy outlook.
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The gold price has retreated to the support level of $2605 per ounce, its lowest in two weeks, declining for the fifth consecutive session.
The USD/ILS has managed to decline from highs on Friday and Monday, this as the currency pair began to stabilize yesterday and begin to selloff slightly.
The USD/NOK currency pair captured my attention as a search for trading opportunities in the exotic currency pairs.