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 euro is finding the current environment increasingly uncomfortable against the US dollar. The issue is not simply that the dollar has been strong, but that the factors supporting it have shown little sign of fading.
Global markets early this morning have turned cautious, the broad Forex market is showing USD centric strength. The USD/INR is within sight of it highest realms but has not found enough buying action to take it beyond its current threshold within a five day technical sense.
USD/CHF remains bullish after breaking above 0.82. The next key target is 0.83, with further upside toward 0.86 possible while 0.8150 support holds.
AUD/CAD has pulled back sharply from parity but retains a bullish longer-term bias. The current buy setup targets 1.0100 with a stop at 0.9820.
AUD/USD Forex Signal: Sell Setups Below 0.7154
AUD/NZD remains bullish despite near-term exhaustion. The 1.23 level is key support and a potential buy-on-dips area, while 1.25 remains the main resistance.
The main reason why now is a good time to be interested in the Forex market, and in this currency pair in particular, is that the US Dollar has finally started moving in a more steady way – upwards.
USD/JPY remains bullish as higher US yields and a wide interest-rate differential support the dollar. Pullbacks may continue to attract buyers while momentum holds.
BTC/USD loses momentum after its recent rally, but ETF inflows, rising futures open interest, a golden cross, and break-and-retest support keep rebound potential alive.
GBP/USD extends its decline as strong US PMI data, rising energy prices, Fed hike expectations, and a firm US Dollar keep bears in control.
EUR/USD extends its bearish trend as the US Dollar and crude oil prices rise, strong US PMI data supports Fed hike expectations, and technical momentum weakens.
King Crypto has shifted from defending lower support to testing levels that could reopen the path toward six-figure prices. The recovery has been notable because it has developed despite a challenging macro backdrop and after the recent failure of the CLARITY Act in the US Senate
Market expectations around the Federal Reserve have shifted in a more hawkish direction, with Kevin Warsh maintaining a hawkish stance. That keeps the possibility of higher US rates in the conversation, while Canada appears more likely to remain comparatively neutral.
Diplomacy has been underway between the U.S and Iran it appears and this has helped create more calm for WTI Crude Oil. However, conditions in the Middle East remain fragile, the Houthi and Saudi Arabia conflict remains a potentially large problem...
GBP/CHF remains bullish near key 1.0950 support. The current buy setup targets 1.1080 with a stop at 1.0900, while the 50-day EMA offers additional support.
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