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.
EUR/USD Forex Signal: War Oil Fears Send USD Flying
The euro rallied ever so slightly on Friday, as we continue to see a nice set up for day trading, but longer-term moves are still waiting for clarity.
Gold has seen some buying pressure again on Friday, as traders have plenty of reasons to believe that this is still a bullish market.
The NASDAQ 100 has seen a bit of selling pressure at the moment, as we continue to worry about interest rates, as PPI came out hotter than anticipated.
Silver rose again on Friday, as we continue to see concerns about supply for the markets.
The US dollar fell to kick off the session on Friday, only to turn things around near the 50 Day EMA.
The Bitcoin market continues to be a tough place to be, but could also offer opportunities going forward.
The British pound has been very noisy in the Friday session, but at this point, it is difficult to get involved until a few levels get broken.
The US dollar rose a bit in the Friday session against the Indian rupee, as the trend remains solid, albeit sluggish.
This pair continues to see a bit of selling pressure, as the downtrend continues to be a massive factor in this market.
The USD/MXN pair continues to see a lot of support just below current levels, but in the end, this remains “fade the rally” at this point.
The USD/ZAR exchange rate rose on Monday morning as financial markets opened following the weekend developments in Iran and the Middle East in general. The pair was trading at 16.9, up from the year-to-date low of 15.6.
The USD/MXN exchange rate wavered on Monday as the recent downward trend took a breather. The pair was trading at 17.21 on Monday, down substantially from last year’s high of 21.30. This retreat has coincided with the broader gains in emerging market currencies.
The GBP/USD exchange rate dropped as investors moved to safety amid the ongoing crisis in the Middle East that has pushed crude oil prices higher. It retreated to 1.33550, down substantially from the year-to-date high of 1.3866.
The BTC/USD pair wavered as geopolitical concerns escalated. Bitcoin price was trading at $66,915 on Monday morning, higher than the year-to-date low of $66,000 and much lower than the all-time high of $126,300.
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