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.
The $5,000 level is looming large at this point in time, as the rally on Friday has been rather impressive to say the least.
The German DAX continues to see a lot of upward pressure overall, and at this point in time, I think we are more likely than not in the midst of trying to find our bottom.
The light sweet crude oil market looks very mush like a market that is trying to figure out what to do, as the Americans could attack the Iranians over the weekend.
The US dollar has fallen against the South African Rand again on Friday, as we continue to see the carry trade play out here. That being said, I am looking to sell all rallies here.
The GBP/USD exchange rate pulled back sharply last week after the Bank of England (BoE) delivered its interest rate decision. It retreated from the year-to-date high of 1.3877 to the current 1.3612 as investors focus on the upcoming UK GDP and US jobs numbers.
The EUR/USD exchange rate pulled back last week as the US dollar staged a mild recovery and after the European Central Bank (ECB) delivered its interest rate decision., which aligned with what analysts were expecting. It was trading at 1.1820, down significantly from the year-to-date high of 1.2080.
The AUD/USD exchange rate held steady above the key resistance level at 0.700 as investors priced in a potential Federal Reserve and Reserve Bank of Australia (RBA) divergence. It rose to a high of 0.7030, a few points below the year-to-date high of 0.7095.
Precious metals continue to consolidate following their burst bubble, while the Australian Dollar and Japanese Yen are the two most interesting major currencies in the Forex market, as dinosaur stocks take their turn to shine.
The EUR/USD finished Friday’s trading near 1.18141, which was above lows seen earlier in the day near 1.17665, but well below highs produced last Monday near the 1.18750 vicinity.
WTI Crude Oil finished the week’s trading near the 63.490 ratio as the commodity established a center of gravity again and showed the market within polite equilibrium per its trading results.
Weekly market forecast analyzing S&P 500, forex pairs, DAX, and global indices, highlighting key levels, trends, and trading expectations.
Despite short-term exhaustion, USD/JPY remains in a strong uptrend, with interest rate differentials favoring buyers on pullbacks toward key support zones.
The USD/CHF pair remains stuck below 0.78 as traders await potential Swiss National Bank action, with markets eyeing a breakout or deeper pullback soon.
The S&P 500 fell to test key support at 6800 on Thursday, with traders eyeing a potential bounce as earnings season continues to influence sentiment.
Bitcoin plunged below $70,000 on Thursday amid rising bearish pressure, with on-chain data signaling deeper losses and a potential return to crypto winter.
