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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During the trading session on Wednesday, we saw quite a bit of volatility in this pair with the US dollar plunging after the CPI came in cooler than anticipated, with a core CPI reading of 0.23% month over month instead of the expected 0.3%. However, the fundamentals in this pair have not changed. This is still a holding pattern between now and the Trump administration taking over in about five days
The US dollar plunged in the early hours on Wednesday against the Swiss franc to reach below the 0.91 level.
The USD/INR has shown price velocity again the past few days, this as the currency pair has been ‘allowed’ to correlate to global Forex conditions by the Reserve Bank of India.
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The US dollar fell against the Canadian dollar during the trading session on Wednesday after the CPI numbers came out much lower than anticipated, reading 0.23% instead of 0.3% month over month in the United States
The GBP/USD pair remained on edge after reports from the UK and the US showed that inflation was easing. In the UK, the headline Consumer Price Index (CPI) moved from 2.6% in November to 2.5% in December, lower than the expected 2.6%.
The EUR/USD exchange rate moved sideways after the US core inflation moved downwards slightly providing a big relief to investors. According to the statistics agency, the core consumer price index (CPI) dropped from 0.3% in November to 0.2%, lower than the median estimate of 0.3%. It dropped from 3.3% to 3.2% on a YoY basis.
Bitcoin price drifted upwards as a risk-on sentiment spread in the financial market on Wednesday.
I'm watching this pair closely because we are hovering right around a major technical area that I think you should be watching yourself. The US dollar is hanging around the 4.50 Malaysian ringgit level, but it is also sitting right there with the 200-day EMA.
A bearish breakdown could target $1.4200.
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Looking to short near $1.0400.
Looking to short this pair near the 1.2350 level and again at 1.2500 at the first signs of exhaustion
The US dollar did fall a bit during the early hours on Tuesday against the Swiss franc as the PPI numbers in America came out flat instead of up 2 10ths of a percent as anticipated. That being said, I don't think that changes much. Most people are going to be paying attention to the CPI numbers on Wednesday, and you should probably also keep an eye on the fact that the market is at an extreme high, the 0.92 level being that high. That level has been important for quite some time, and I think it will continue to be. So, if we can break above there on a solid daily close, perhaps maybe at 0.9250, I think this is a pair that goes much, much higher. I think that happens eventually anyways.
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For the second consecutive trading session, gold prices are moving higher with gains extending to the resistance level of $2684 per ounce, which is stable
For the second consecutive trading day, the EUR/USD currency pair has attempted to halt its recent sharp decline, which extended to a low of 1.0177, the lowest
The USD/ILS has maintained a rather stable range and continues to show that financial institutions appear to be satisfied with the current price equilibrium of the currency pair.