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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Markets were dominated by bullishness in US tech stocks last week, and renewed strength in the US Dollar, while commodity currencies weakened.
The WTI crude oil price stabilized last week even as concerns about more supplies and weak demand remain.
A weekly analysis of silver, gold, forex pairs, and commodities highlights USD dominance, ECB rate cuts, and key levels for WTI crude and NASDAQ.
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The EUR/USD notched a second weekly decline in a row after the European Central Bank (ECB) slashed interest rates and the US published the November inflation data on Wednesday.
The euro weakens following a dovish ECB rate cut, with consolidation near 1.05 and risks of a drop to parity if 1.03 support fails.
The USD/CAD pair climbs as the Bank of Canada’s rate cut weakens the loonie, with key levels at 1.42 and 1.45 signaling potential bullish momentum.
The USD/PKR pair trades sideways near 277.5 as central bank intervention limits movement, presenting cautious scalping opportunities within a tight range.
The USD/JPY pair steadies near ¥150, supported by interest rate differentials and technical indicators, with resistance eyed at ¥153 and potential for ¥156.
The USD/CHF pair climbs as the Swiss franc weakens following an unexpected 50 basis point SNB rate cut, with bullish momentum targeting 0.91.
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The British pound remains resilient against the US dollar despite global rate cuts and economic uncertainty, hovering near 1.2750 with potential moves in both directions.
Ethereum approaches $4,000, supported by bullish sentiment, Bitcoin's influence, and strong buy-on-dip support near $3,500–$3,600.
The Mexican peso struggles amid US dollar strength, slow economic growth, and potential risks tied to border policies and remittances.
Silver initially did try to rally during the trading session on Thursday to reach the crucial $32.35 level.
The Euro rebounds against the Swiss Franc as central bank rate cuts spark volatility, with key support and resistance levels guiding short-term opportunities.
EUR/USD drops to 1.0480 under selling pressure as markets anticipate an ECB rate cut and monitor US PPI and jobless claims data.