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 XAU/USD currency pair goes back and forth on Friday to show signs of hesitation yet again, as we are hanging around the 200-Day EMA.
The GBP/USD exchange rate rose to the highest level since Wednesday 17 as the US dollar continued retreating.
The EUR/USD price remained in a consolidation close to its highest point this month ahead of the upcoming US and European consumer confidence data.
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The US dollar has bounced back a bit during the Friday session on thin volume against the Canadian dollar.
The BTC/USD price remained in consolidation during the weekend as demand for digital coins remained tight.
The Crude Oil market has rallied a bit on Friday but found enough resistance near the $80 level to turn things around and show signs of exhaustion.
My previous signal on 9th November was not triggered, as there was no bullish price reaction when any of the support levels were first reached that day.
The GBP/USD currency pair has gone back and forth during the trading session on Friday, as one would expect, hanging around the 200-Day EMA.
The Euro continues to do very little, although the last couple of days have been greatly influenced by the Thanksgiving holiday in the United States.
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The Australian dollar has finished the week in the middle of consolidation, seemingly content with doing very little on Friday.
Bitcoin has done almost nothing during the trading session on Friday yet again, as it is essentially just sitting in the same area that it has been for 2 weeks.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
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When starting the week, it is a good idea to look at the big picture of what is developing in the market as a whole, and how such developments and affected by macro fundamentals, technical factors, and market sentiment.
The EUR/USD sustained value last week and then experienced strong buying after the U.S Fed’s Meeting Minutes report was issued on Wednesday.
The GBP/USD provided a whirlwind of gains late last week, as the currency pair responded to data and fiscal rhetoric with an additional bullish run.