Bitcoin bounced on Wednesday, holding above $110K support while facing resistance at $117K, as Wall Street ETF flows and shifting risk sentiment guide momentum.
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 British pound tumbled below the 50-day EMA on Wednesday, with GBP/USD targeting 1.34 support as a stronger dollar and weak global sentiment drive selling pressure.
The euro dropped toward 1.1725 on Wednesday as the Fed’s cautious tone supported the US dollar, leaving EUR/USD range-bound under 1.19 resistance.
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Bitcoin has again tested the area of its three-week low, centred on the support level at $111,332, which looks likely to be pivotal today.
Natural gas is probing support near $2.70 as the November contract approaches, with seasonal demand set to play a key role in the next move.
The Nasdaq 100 pulled back from recent highs on Wednesday, testing support around 24,000–23,500 while traders watch for a bounce toward the 25,000 level.
The US dollar rallied toward 149 yen resistance on Wednesday, signaling potential for a breakout toward 151 or a continuation of range-bound movement.
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Silver is pausing after a strong rally, with $42 as support and upside targets of $45–$46 still in play for bullish traders.
Gold is consolidating after hitting $3,800, with a potential dip to $3,700 seen as a buying opportunity in the broader bullish trend.
AUD/USD slipped after strong inflation data and ahead of the RBA meeting, with traders watching 0.6450 support and 0.6700 resistance.
GBP/USD plunged to multi-week lows on strong US housing data, with sellers targeting 1.3300 while buyers defend 1.3600 resistance.
EUR/USD slipped after strong US housing data and Fed comments reduced cut expectations, with bears eyeing 1.1600 and bulls watching 1.1850.
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