The market structure is changing, but the ongoing correction introduces another technical question into the market.
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.
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EUR/GBP is testing the 200-day EMA and key 0.8650 resistance. A confirmed breakout could strengthen the bullish outlook, while 0.8600 remains the key downside level.
Copper remains bullish while holding above key $6.50 support and the 50-day EMA. Strong AI data-center demand and Chilean mine constraints support a longer-term move toward $7.
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AUD/NZD rallied Friday as the uptrend continues, with the chart forming a bullish flag. The interest rate gap favors the Australian dollar, with the RBA's cash rate at 4.35% against the RBNZ's 2.75%.
The USD/MXN has seen a lift off occur the past handful of day as global assets and outlooks react to an environment not all investors, nor large players, are comfortable.
Dips are viewed as buying opportunities in the AUD/CHF pair, with 0.59 as the first target and 0.60 above. Only a major flight to safety into the franc would change the trend.
The main reason why now is a good time to be interested in the Forex market, and in this currency pair in particular, is that the US Dollar has recently made a significant technical breakout upwards.
USD/CHF continues to climb and is now threatening the 0.83 level, supported by a wide interest rate differential with the Swiss National Bank holding rates at 0%. The bias stays bullish, with dips viewed as buying opportunities.
CAD/JPY is testing key ¥110 support after Finance Minister Katayama warned Japan could intervene again, while softer oil prices weighed on the Canadian dollar. A break below ¥110 opens the way toward ¥106. The current signal is a buy with a stop at 109.90 and a target of 113.
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EUR/USD remains in a long-term bearish trend as a strong US Dollar weighs on the pair. A daily close below 1.1375 could signal a short entry.
GBP/USD exchange rate remains under pressure as tensions between the US and Iran escalated during the weekend and as traders waited for important macro data. It slipped to a low of 1.3206, its lowest level since June 29, and much lower than the August high of 1.3677.
Bitcoin's price remains above the key support level of $84,000 as demand for the coin continues despite rising bond yields. BTC/USD pair was trading at 84,380, a few points below this month’s high of 87,270. It remains much higher than the July low of 57,800.
The AUD/USD exchange rate dropped for three consecutive weeks as traders waited for the upcoming Reserve Bank of Australia (RBA) interest rate decision. It dropped to 0.7023, its lowest level since August 3, and is down by nearly 3% from its highest level this month.
The market remains caught between hope and doubt. Reports of talks can move prices quickly, yet the details remain uncertain and are often disputed. That leaves oil traders trying to assess developments in real time.
The crypto market experienced another broad advance this past week, with gains spread across most large assets even as the pace varied sharply.