Weekly Market Forecast: Key pairs in focus include Bitcoin, WTI Crude, AUD/USD, NASDAQ 100, EUR/GBP, USD/CAD, GBP/USD, and CAC 40. Trade smart, stay updated!
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.
Most Recent
WTI Crude Oil traded higher last week and finished near the 78.440 USD price going into the weekend, the commodity extended gains which essentially started on the 4th of June.
Since the 7th of June the EUR/USD has seen volatility spike as its price range has whipsawed and created dangerous trading conditions for the currency pair’s speculators.
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Last week saw stocks advance on lower US CPI data despite a still-cautious Fed, while the Forex market is dominated by a weak Euro and Japanese Yen.
The Australian Stock Exchange has been very noisy as of late, as we continue to hang around the 7700 Australian dollars level.
The greenback continues to levitate against the Japanese yen as we head towards a Bank of Japan meeting during the early hours on Friday.
The United States dollar continues to find support against the Swiss franc, despite the fact that the PPI numbers in the early hours on Thursday were complete miss.
Bitcoin has fallen just a bit during the early trading session on Thursday but it appears that we continue to hang on to the $67,000 level.
The US dollar has been all over the place during the trading session on Thursday as the PPI numbers came out weaker than anticipated.
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The German index fell rather hard during the trading session on Thursday as we plunged towards the 18,250 euro level.
The British pound has rallied a bit against the Japanese yen, but really at this point in time, it is giving back quite a bit.
The Euro fell a bit during the trading session on Thursday as the 1.08 level seems to be a little bit much to overcome.
The S&P 500 initially tried to rally, but we have pulled back just a bit during the trading session on Thursday as the PPI numbers were lower than anticipated.
Silver has fallen pretty significantly during the trading session on Thursday but has turned around to show signs of life.
The USD/TRY pair has maintained its stability without any significant changes. Recently, the pair has continued to move at the same levels for the third month in a row, confirming the controlled movement of the Turkish currency.