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.
Most Recent
The BTC/USD pair held steady above 98,000 amid low volume due to the Christmas season.
The US dollar strengthens against the yen, poised to break ¥158 and target ¥162, driven by high US yields and persistent yen weakness.
The British pound stalls against the yen near resistance at ¥200, with support at ¥195 and potential upside toward ¥208 if the resistance barrier breaks.
Top Forex Brokers
The EUR/USD pair was largely unmoved on Thursday as European markets remained closed for Boxing Day.
The GBP/USD exchange rate remained relatively unchanged this week, as the forex market experienced low volumes due to the Christmas Holiday.
The US dollar consolidates against the Canadian dollar, finding support at 1.42 while resistance at 1.45 caps gains, driven by strong US fundamentals.
During my daily analysis of the commodity markets, the gold market looks somewhat stable, despite the fact that it was Christmas Eve, and of course liquidity might’ve been almost nonexistent.
The euro continues to weaken, nearing 1.03 support as dollar strength dominates, driven by rising US rates and economic and political instability in Europe.
During my daily analysis of the exotic currency pairs, the USD/ZAR pair is starting to capture my attention again, as the US dollar has rallied quite significantly.
Bonuses & Promotions
Despite improving risk sentiment, this currency pair cannot turn bullish but is instead making a neutral consolidation pattern over the short term, while trading within a longer-term bearish price channel.
In my daily analysis of commodities, the silver market has shown itself to be depressed, due to the fact that the interest rates in America continue to be very strong.
During my daily analysis of the commodity markets, the West Texas Intermediate Crude Oil market has shown some strength.
During my daily analysis of financial markets, Bitcoin captured my attention due to the fact that we have bounce significantly from the 50 Day EMA, which sits near the $93,000 level, and is rising.
For three consecutive trading sessions, gold prices have been trying to rebound to recover the losses of the previous week, which extended to the support level of $2,583 per ounce.
In the shortened trading week due to Christmas holidays, the performance of the Euro is likely to remain under pressure against the US Dollar.