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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Despite the slight hawkish tilt from the Federal Reserve, stronger than expected US economic data and the 0.25% rate cut were enough to push major US stock market indices firmly higher to new all-time highs, followed by the precious metals Gold and Silver.
The EUR/USD finished this week of trading near the 1.17500 level, but certainly there is much more to the value of the currency pair that needs to be examined as this week gets ready to begin.
WTI Crude went into the weekend around 62.100 USD, this after producing momentum upwards on Tuesday and going above 64.400 but then reversing slightly lower, followed by dynamic selling Thursday and Friday.
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Catch up on the latest weekly trends in forex, crypto, and indices. Key levels to watch and what could move markets next.
USD/MXN found support at 18.25 and is attempting a recovery, with resistance at 18.50 and potential upside toward 18.67–19.00.
Gold pulled back to $3650, but the bullish breakout from the $3500 level keeps $3800 in focus as the next major upside target.
Bitcoin surged above $117K, confirming its bullish trend, with a signal targeting $121K while support sits at $113,800 and $110K.
The US dollar strengthened against the Indian rupee, testing resistance at ₹88.50 after the Fed cut rates, with support near ₹87.45 in focus.
USD/CAD consolidates around 1.38 as traders eye a breakout toward 1.39–1.40, with 1.36 holding as key support.
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The Nasdaq 100 rallied after the Fed’s 25 bps cut, with momentum fueled by Nvidia and Intel as bulls target the 25,000 level.
The euro nudged up against the pound after the BoE rate hold, but EUR/GBP remains stuck in its 0.86–0.8750 range, favoring short-term trading setups.
The US dollar extended gains against the yen on Thursday, consolidating between 146–149 as traders await the BoJ’s decision that could trigger a breakout or sharp reversal.
The euro failed to extend gains on Thursday, holding near 1.18 as traders weigh the Fed’s rate cut and await confirmation of a breakout toward 1.20 or a return to consolidation.
The EUR/USD pair corrected lower after hitting a 4-year high as traders digested the Fed’s 25bp rate cut, but the bullish outlook toward 1.2000 remains intact.
Gold (XAU/USD) stays bullish after the Fed’s rate cut, with traders watching $3,560 support for new buy opportunities and resistance targets at $3,710–$3,760.