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.
USD/JPY remains capped near 160, but the broader bias still favors buying dips while 158 support holds and yield differentials favor the dollar.
Gold continues to move with US yields, but as long as $4,600 support holds, dip-buying remains favored within a volatile $4,600–$4,900 range.
EUR/USD is stabilizing at the 50-day EMA, but strong resistance near 1.18 and ongoing rate and energy pressures keep the pair rangebound.
WTI crude oil remains rangebound and headline-driven, with sellers capping rallies while traders watch $85 support and $100 resistance for the next breakout.
GBP/USD is holding key support near 1.35, with softer US yields and resilient Bank of England policy helping keep the pound biased higher.
The British pound continues to see a bit of support in this area, as we wait for news out of the Middle East.
The German DAX rose initially on Wednesday, but as we saw on Tuesday, sellers came into the market to start selling.
Ethereum has risen during the trading session on Wednesday and while everybody is watching Bitcoin, they seem to be sleeping on this market.
The US dollar has risen against the Mexican peso on Wednesday, as interest rates in American continue to dance around the 4.3% level again.
US dollar continues to see a lot of back-and-forth behavior against the South African rand, as we are dancing around a support level that has been important.
Bitcoin has spent its time in the wilderness recently, but it is hard to ignore that it could very well be back at this point. I am a bull now.
Short-term pullbacks continue to be what I look for in this market, as the interest rates continue to favor America.
Tron (TRX) has been grinding higher inside a tight ascending channel since early March, climbing from $0.278 to a recent high near $0.325 before consolidating in the low $0.30s.
The 160.4 yen level is still an area I will be watching closely in this pair.
The biggest concern I have right now is that the interest rate markets are being driven by games being played with the headlines. Because of this, and the overextension of price, it is difficult to be aggressive.
