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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In my daily analysis of minor currency pairs, I have been paying attention to the GBP/AUD pair, as well as other British pound related currency pairs, as the Bank of England chose to keep interest rates steady during the early hours, and therefore it does suggest that perhaps there might be a bit of support for the British pound going forward.
During my analysis of major currency pairs during the trading session on Thursday, the US dollar looks very weak as traders are starting to punish the greenback due to the fact that the Federal Reserve cut interest rates by 50 basis points during the session on Wednesday.
During my daily analysis of minor currency pairs, the CAD/CHF pair has caught a certain amount of attention on my part.
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During my analysis of major stock markets, it’s obvious that the S&P 500 is extraordinarily bullish as we have taken off to the upside during the trading session on Thursday.
In my daily analysis of the commodities markets, the silver market has stood out a bit due to the fact that it had not only turned around quite drastically, but it also wiped out all of the losses from the previous session.
The New Zealand dollar has shot higher against the US dollar during early trading on Thursday as traders continue to react to the Federal Reserve cutting interest rates by 50 basis points on Wednesday.
The Parisian index skyrocketed during the trading session slamming into the 7600 euro level but perhaps more importantly the 200 day EMA.
The euro has shot higher against the Japanese yen in early trading on Thursday to reach the 160 yen level.
As you can see during the trading session on Thursday, it was a positive session, breaking well above the $70 level and it now looks like we could threaten $72.50.
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Gold markets have rallied pretty significantly during the early hours on Thursday as we are trying to recover a lot of the lost ground late during the day on Wednesday.
The Turkish Lira traded against the US Dollar in early trading on Thursday morning.
Recent trades have seen the British Pound rise to near $1.33, its strongest level since February 2022, benefiting from the general weakness of the US dollar.
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The EUR/USD currency pair jumped to its highest level in three weeks at the resistance level of 1.1189 following a larger-than-expected US interest rate cut.
Gold retreated to $2563 after almost hitting a new record high of $2600/oz as investors digested the latest US Federal Reserve decision.
The Euro initially tried to rally a bit against the US dollar in early trading on Wednesday, but as we creep towards that FOMC interest rate decision statement and press conference, it looks like a little bit of the bullishness is starting to come out of this market.