Risk assets got a major boost from Trump’s touting of a peace deal within a week, but the rise in Bitcoin remains subdued.
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 USD/ILS is within lower values not seen since 1993, this as the currency pair traverses within sight of the 3.90000 and looks ready to push lower.
Day traders of the USD/MYR can clearly see the currency pair is once again touching lower depths after this morning’s price action, this as values around 3.9080 are challenged.
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The GBP/USD pair wavered after the Federal Reserve delivered its interest rate decision and as geopolitical tensions rose. It was trading at 1.3480, a few points below this month's high of 1.3595, as focus shifted to the upcoming Bank of England (BoE) interest rate decision.
The EUR/USD exchange rate retreated after the Federal Reserve delivered its interest rate decision on Wednesday. It also dropped as energy prices surged amid the ongoing rhetoric between the US and Iran. It was trading at 1.1677, a few points below this month’s high of 1.1855.
The AUD/USD exchange rate dropped as traders reacted to the latest Australian inflation report, Federal Reserve interest rate decision, and the soaring crude oil prices. It was trading at 0.7123, down from the year-to-date high of 0.7195.
The Nasdaq 100 jumped to kick off the Wednesday session, as interest rates are dropping, due to the potential progress in peace talks between Iran and the United States.
The Euro rallied on Wednesday, as the interest rate markets tried to price in the idea of peace in the Middle East.
The Bitcoin market jumped a bit on Wednesday to test the crucial 200-day EMA. This is a market that continues to look positive, no matter what is going on in the world. In this environment, it’s a strong sign we are still rallying.
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Nvidia has screamed higher at the open on Wednesday, as we look at the interest rate markets have seen dropping rates, thereby offering more of a “risk on” environment.
The US dollar has dropped across the board against most currencies, but the Swiss franc is in a different world at the moment.
The US dollar fell against multiple currencies on Wednesday, as the interest rates in America fell as well.
The US dollar fell on Wednesday as traders watched rates in America drop rapidly. That being said, this is a pair that could offer a trade here.
The US dollar bounced a bit on Wednesday, as we are looking at the same range for some time, and should continue to see the same action. With this, I look at this as a short-term focused opportunity.
The German index looks strong on Wednesday but has also found a major resistance barrier to contend with. At this point in time, the market continues to see interest rates and headlines.