The crypto market arrives at the weekend with its headline intact but its internal support fading. Total capitalization has held its ground while gains have concentrated near the top.
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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Softer U.S. employment data changed Fed expectations as the dollar, EUR/USD, Nasdaq, oil and cryptocurrencies enter the week with key technical levels in focus.
Major financial markets enter October focused on interest rates, technical levels and macro factors. Gold, currencies, metals, oil and Nasdaq show different areas of market tension.
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USD/JPY faces a key test ahead of US Non-Farm Payrolls. A break above ¥159 would be bullish, while a move below ¥156.50 would weaken the outlook, although rate differentials continue to favor the dollar.
USD/CAD tests major resistance after a strong rally, with higher US rates continuing to favor the dollar. A breakout could eventually put 1.45 in focus, while NFP raises the risk of a short-term pullback.
Silver trades near key $60 support ahead of US Non-Farm Payrolls. Falling bond yields could support a rebound, while a break below $60 may put $55 in focus.
Gold trades near $4,200 ahead of US Non-Farm Payrolls as traders assess the outlook for interest rates. $4,000 is key support, while $4,300 remains the main resistance level.
GBP/USD tests the key 1.3150–1.32 support zone ahead of US Non-Farm Payrolls. A move above 1.33 favors buying, while a break below 1.30 would turn the setup bearish.
WTI crude oil rallies as China’s fuel export suspension tightens supply. The outlook remains bullish around $90, with $95 the key resistance level ahead of US jobs data and the OPEC+ meeting.
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USD/JPY trades below key ¥158 resistance as US rate expectations pressure the dollar short term. The longer-term outlook remains bullish, with dips potentially attracting buyers.
NZD/USD tests key 0.5650 support as US rates keep pressure on the Kiwi. A breakdown could target 0.56, while rallies toward 0.57 may attract sellers.
Natural gas faces resistance near $2.92, while $2.80 provides key support. High storage may limit gains, but seasonal demand is beginning to favor bulls.
AUD/CHF holds near 0.58 support as the carry trade favors the Aussie. The bullish setup targets 0.60, with 0.5750 defining the downside risk.
USD/CHF remains bullish as the carry trade favors the dollar. The pair is targeting 0.84, while 0.82 remains the key support level.
EUR/USD has slipped below another major round number, and the market is clearly taking notice. The euro remains under pressure as the U.S. dollar benefits from higher yields...