The EUR/USD finished near 1.17246 going into this week, this after seeing marks on Tuesday of this past week around the 1.15300 level.
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 two-week ceasefire agreed between the USA and Iran early last week has boosted stock markets and suppressed energy prices, creating a more risk-on environment, but sentiment may darken as the first round of talks in Pakistan ends without a deal.
WTI Crude Oil went into the this weekend above the 90.000 USD mark, and by now speculators should be ready in their thinking for the opening of trading tomorrow which is certain to be an adventure as the week starts.
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Coincidence or not, the price of Coffee Arabica moved in a correlated manner to the values of the WTI Crude Oil market this past week, this as volatility moved based on caution being expressed by traders via the Iranian ceasefire.
Bitcoin holds steady despite risk concerns, while forex, indices, and commodities react to global sentiment and key macro events.
USD/CHF is sitting on an important support zone, with US yield trends and Middle East headlines likely to decide whether the pair bounces or slips toward 0.78.
EUR/USD is approaching the key 1.17 area on improving risk sentiment, though higher US yields and Middle East headlines may keep the pair volatile and rangebound.
GBP/JPY remains bullish as persistent yen weakness and favorable rate differentials push the pair toward the key 214–214.50 resistance zone.
Bitcoin is holding up well despite geopolitical turmoil, with a developing bottoming pattern and steady ETF inflows suggesting a possible breakout if $76,000 is cleared.
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AUD/USD is trapped in the middle of a broad range, with 0.7150 as major resistance and 0.6950 near the 50-day EMA acting as the main support zone.
NZD/USD extended its rally on Thursday as risk appetite improved, with 0.59 now the key resistance level and 0.58 acting as the main support.
USD/JPY remains rangebound between 158 and 160, with upside pressure building toward 160.40 as yield differentials continue to favor the US dollar.
USD/CAD is slipping after stalling above 1.3850, with the 200-day EMA and 1.3750 now acting as the key downside support zone.
GBP/USD is testing the key 1.35 resistance zone, where a rejection tied to higher US yields could trigger another short-term move back toward 1.34.
The USD/MYR is trading around the 3.9850 mark, which is below highs seen early this week when the 4.0350 vicinity was being traversed