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.
Despite the bearish double top pattern which seems to have completed, the price has been making a firm bullish consolidation above the support level at $76,975.
The USD/ZAR is near the 16.53200 ratio as of this writing, but day traders are reminded that South Africa is celebrating their Freedom Day holiday and Forex volumes for the Rand will be extremely thin.
The GBP/USD exchange rate rebounded on Friday after reports emerged that the Iranian Foreign Minister was traveling to Pakistan, possibly to meet with the US.
The EUR/USD exchange rate held steady at 1.1700 on Monday morning ahead of a busy week in which the US and Europe will release their numbers and the European Central Bank (ECB) and the Federal Reserve will deliver their interest rate decisions.
The AUD/USD exchange rate remained in a narrow range on Monday ahead of the upcoming Australian inflation report and the Federal Reserve interest rate decision. It was trading at 0.7150 on Monday, down from the year-to-date high of 0.7225.
After touching a high of nearly 1.17915 on Monday, the EUR/USD was trading around 1.16690 on Thursday, this before going into the weekend around 1.17170.
The finish for WTI Crude Oil going into this weekend was near $93.115, this after touching a high close to 96.950 on Thursday, and having completed the previous week’s results below $84.000.
Increased expectations of a peace deal soon between the USA and Iran have pushed stocks and other risky assets higher for another week, but the bearish news over the weekend as talks break down suggest Monday is likely to open with a gap down and more risk-off sentiment.
Gold, silver, Nasdaq and major FX pairs show sensitivity to rates and geopolitics, with defined ranges and reactive price behavior.
EUR/CHF remains firm near the 50-day EMA, with a break above 0.92 opening the door toward the 200-day EMA near 0.9250.
GBP/CHF remains supported by a favorable interest rate differential, with 1.0650 as the key breakout level and 1.05 as the main support zone.
AUD/JPY remains bullish as carry trade demand and RBA strength support the pair, with 114.50 as the key breakout level and 112 as major support.
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.
