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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The British Pound plunged on Thursday, driven by UK bond yield spikes, with traders predicting volatility and potential declines to 1.20 against the US dollar.
The Euro remains under pressure at 1.03 support, with rising US interest rates and potential parity in sight, as markets await non-farm payroll data.
The US dollar maintains bullish momentum against the yen, driven by rate differentials, with 158 yen as key support and 159 yen resistance in focus.
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The US dollar continues to strengthen against the Mexican peso, with market focus on political developments, border tensions, and Friday’s payroll data.
Friday's trading session for USDCAD could see heightened volatility with key employment data releases, marking a pivotal moment for the currency pair.
GBP/USD remains under selling pressure, testing support near 1.2320, as dollar strength and UK economic concerns drive the pair toward further downside targets.
The USD/TRY pair has maintained its stability throughout this week's trading, with trading confined to a limited range between 35.20 and 35.40 over the course of this week's trading.
USD/JPY nears 160.00, raising concerns of Japanese intervention to prevent further yen decline.
During mid-week trading, gold futures resumed their gains as investors digested the minutes of the Federal Open Market Committee's latest policy meeting at the bank's last meeting in 2024.
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The NASDAQ 100 sits at critical 21,000 support, with potential upside to 21,500, as investors weigh bond market concerns and upcoming jobs data.
The US dollar has rallied again during the trading session on Wednesday, as the Japanese yen has finally given away to the ¥158 level and the pressures being brought upon it.
During my daily analysis of the commodity markets, gold is looking rather interesting as we are starting to see the market try to break out above a minor resistance barrier.
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Ethereum stabilizes at $3300 support, with bullish potential toward $3600 and $3700 if momentum builds above the 50-Day EMA.
This currency pair is looking very weak as Australian data disappoints and the greenback sweeps everything away.
It's worth noting that the British pound has pierced the 1.2350 level. Breaking down below there is a very negative turn of events, but we have held on to that order to show signs of resiliency.