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 DAX index traded quietly on Friday but remains in a strong uptrend, with support at €23,600 and potential upside toward €25,000 on a breakout above €24,500.
The US dollar recovered against the Swiss franc after strong jobs data, with firm support at 0.81 and a potential breakout above 0.84 signaling renewed bullish momentum.
Gold fell after hotter-than-expected US NFP data, but strong support near $3250 and long-term bullish sentiment above $3000 suggest buyers may return.
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Bitcoin rebounded from $100,000 and the 50-day EMA, suggesting strong support as bulls look to break above $112K and continue the broader uptrend.
Despite initial strength, the US dollar reversed against the Mexican peso as strong US economic data fueled optimism for Mexican exports and peso resilience.
The British pound is drifting lower after strong US NFP data, with GBP/USD consolidating between 1.34 and 1.3650 as traders watch for a breakout direction.
The Canadian dollar is showing signs of building a base against the Swiss franc near 0.6050, with choppy consolidation suggesting a potential trend shift ahead.
Bearish shakeout below $102,000 results in another rise which has petered out into a consolidation, but bulls keep hopes up.
Crude oil rallied strongly after hot NFP data, breaking toward the $65 neckline of a bullish inverted head-and-shoulders pattern, with targets near $67.50.
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The AUD/USD pair is trending upward within an ascending channel as strong technical indicators and improving sentiment point to gains toward 0.6600.
The GBP/USD pair is showing signs of a small double-top pattern as traders await US inflation and UK economic data, with potential for near-term pullback or breakout.
The EUR/USD pair is consolidating into a potential double-top pattern following an ECB rate cut and strong US jobs data, with key movement expected after US inflation figures.
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Risk sentiment continued to improve this week, with early signs of a bullish reversal in the US Dollar dominating Forex markets, while stocks traded a bit higher, and commodities markets were dominated by the strong bullish move to a new 13-year high in Silver.
After a run higher from Wednesday into Thursday that saw the 1.15000 level coming into sight, cautious EUR/USD trading hampered bullish perspectives and the currency pair traversed lower going into the weekend.
After spending most of last week within a well defined and known price range, Friday’s trading saw a run higher and WTI Crude Oil coming within sight of the 64.000 USD ratio.