WTI Crude Oil went into this weekend slightly below the $96 level in futures markets, and slightly above that mark via spot transactions, both types of contracts finished Friday near low water values.
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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Global markets remain unstable as traders react to interest rates, macro uncertainty and shifting risk appetite across currencies, gold, crypto and equities.
USD/CHF is facing short-term pullback pressure, but the broader bias remains bullish as yield differentials and Swiss National Bank policy support the dollar.
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USD/JPY remains bullish despite Thursday’s pullback, with 158 acting as key support and 160.50 as the breakout level for a larger upside move.
Copper remains bullish after buyers defended $6.25, with tight supply and strong long-term demand supporting a move toward $6.50.
GBP/USD is stabilizing between the 200-day and 50-day EMAs, with 1.3350 acting as support and 1.35 as the next upside target if buyers gain momentum.
Gold remains under pressure from high US yields, with $4,600 and the 50-day EMA acting as key resistance until rates begin to ease.
EUR/USD remains pressured below the 200-day EMA as higher US yields, Fed tightness, and Europe’s energy risks favor selling rallies.
USD/CAD remains bullish as rising US rates and economic concerns in Canada support a move toward 1.39, with 1.37 acting as key support.
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Bitcoin continues to hold near the 50-day EMA, with institutional ETF inflows and resilient price action supporting a potential move back toward the 200-day EMA and $84,000.
Silver is trying to bounce as interest rates ease, with a break above the 50-day EMA potentially opening a short-term move toward $79.75.
USD/MXN remains bearish as risk appetite supports the peso, with rallies toward 17.45 likely to attract sellers while 17.20 and 17.00 act as support.
USD/JPY remains bullish as dip buyers defend the 158 area, with rising yield differentials keeping the focus on a potential move toward 160.
The USD/MYR has come off its highs that it demonstrated yesterday when the 3.9800 level was penetrated higher and it now is traversing the 3.9570 ratio as the market trades.
The USD/ILS has maintained its long-term lows and as of this morning is traversing near the 2.90850 ratio depending on the bids and asks as a holiday looms in Israel.