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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It has become obvious that the gold market still has plenty of buyers underneath, and short-term pullbacks will more likely than not end up being a nice opportunity to get involved in what has been a very strong uptrend.
During the trading session on Friday, I noticed that the USD/CHF pair looks very strong, as we have broken above the crucial 0.8550 level.
The GBP/USD exchange rate drifted downwards after the US published strong jobs numbers on Friday.
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The Euro plunged during the trading session on Friday after the jobs number in America came out much hotter than anticipated.
Bitcoin held steady on Monday morning as the recent consolidation continued.
The Australian dollar retreated for four consecutive days, erasing most of the gains made in September.
A resurgent US Dollar boosted by strong US jobs and earnings data last Friday is dragging the price down. The action looks quite heavy and suggests that an attempt will be made to break below the support level at $1.0947.
Last week saw a huge rebound in the Forex market in favour of the US Dollar following very strong US jobs data, although some risky assets, notably stocks and precious metals, held up firmly against the greenback.
Nervousness is the pervading theme in the EUR/USD for the moment and the currency pair went into this weekend near the 1.09750 level.
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WTI Crude Oil went into this weekend near its highs as speculative chatter about the conflict in the Middle East clearly drives nervous behavioral sentiment.
Get the weekly Forex forecast for major currency pairs for the week of October 7-12, 2024 here.
During my daily analysis of exotic currency pairs, the US dollar is captured my attention as we continue to see it stretch higher against the Indian rupee.
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The ASX 200, one of my favorite global indices, fell a bit during the trading session on Thursday, only to turn around and show signs of life.
In my daily analysis of the commodities markets, the silver market has seen a lot of volatility in back and forth trading.
The market continues to see a lot of noisy behavior, and I think what we have is a scenario where people are using this as a proxy for risk appetite, which of course is something that you would anticipate.