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.
Bitcoin price held steady above the important resistance level at $80,000 as the recent momentum continued. The BTC/USD pair was trading at 80,500 on Tuesday, its highest point since January 31st. It has risen substantially from the lowest level this year.
As of this morning the USD/MXN is around the 17.45425 ratio with fast changes of value being displayed as full volume is awaited on after the May 1st banking holiday in Mexico.
The USD/ZAR is near the 16.62430 ratio as of this writing, this after touching an early morning low around the 16.50000 vicinity when trading began, but caution has been sparked again and thus the reversal higher.
The bullish trend in Bitcoin continues with the price reaching a new 3-month high above $80,000 before making a double top and turning lower.
The US dollar found buyers at the crucial 1.3550 level against the Loonie on Friday, as traders continue to play the range in this pair.
Ethereum is a market that nobody’s paying attention to now, so that’s why I’m bringing it up, as there could be a nice opportunity here.
Friday has seen a lot of noise in the gold market, as traders try to get a handle on headlines and interest rates.
The US dollar has choppy against the yen on Friday, but it looks as if there are buyers willing to stabilize this pair.
The US dollar initially dropped against the Mexican peso on Friday, as traders were looking for yield. However, we have since seen a bit of a bounce.
Bitcoin continues to rise overall, despite the fact that there are a lot of concerns around the world, and the fact that it is “far off on the risk spectrum.”
The euro initially fell against the yen on Friday but has turned things around to show signs of stability. At this point, the markets are still looking bullish despite the intervention.
Natural gas tried to rally on Friday but continued to see a ceiling above.
NVIDIA fell slightly at the beginning of the Friday session but continues to find buyers below to offer hope for a continuation of the longer-term uptrend.
The US dollar has been slightly negative against the Swiss franc again on Friday, as there are a lot of concerns out there with the Middle East headlines, and interest rates.
The GBP/USD exchange rate continued rising, reaching its highest level since February 11 this year. It rose to 1.3652, up sharply from the year-to-date low of 1.3162. This rally happened as a divergence between the Federal Reserve and the Bank of England emerged.
