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 ability of the USD/MYR to move lower today is noteworthy, because the selling of the currency pair continues to demonstrate financial institutions are leaning into a bearish outlook.
The USD/INR exchange rate remains a difficult currency pair for day traders to speculate on because of India’s government controls on Forex, yet the incremental rise higher remains technically attractive.
The GBP/USD pair has caught my attention as we have turned around to break the top of the hammer from the previous session.
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Bitcoin has been declining and looking bearish in line with the general risk-off sentiment dominating capital markets.
The ASX 200 has stood out as an example of a potentially exciting technical analysis set up.
I recognize that we have a situation where the market is going to continue to be very noisy.
It’s easy to see that this asset is strengthening, as we have bounce significantly from the 1.1050 level to reach the crucial 1.11 level.
The USD/MYR pair looks very interesting, as we did pull back a bit in the overall downtrend over the last couple of days, only to see it fall yet again.
The GBP/USD pair bounced back after the JOLTs report and the Beige Book pointed to a slowing US economy.
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The EUR/USD currency pair bounced back after the relatively weak European services PMI and US job vacancy numbers.
The AUD/USD pair pulled back after the latest Australian services PMI and GDP numbers.
Despite the financial markets being positioned for further gains by the pound sterling, business leaders have sent the first clear warning signal that the outlook is slowing.
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The US dollar is nearing a two-week high against the euro, driven by market expectations for the upcoming US payrolls report and its potential impact on the US Federal Reserve’s policy.
The USD/JPY pair saw a sharp decline to near 145.00, driven by hawkish guidance from Bank of Japan Governor Kazuo Ueda. Ueda reiterated the need for the Bank of Japan to raise interest rates further this year, stressing that the central bank will not hesitate to act if economic and inflationary conditions are in line with expectations.
Recent selling pressure since the beginning of September has pushed the gold price below the significant $2500 per ounce level, with losses extending to the $2473 per ounce support level before stabilizing around $2480 per ounce at the time of writing.