Stock markets in Asia and the USA have powered to new highs on lower than expected US inflation data and expectations of a US rate cut and trade deal with China coming this week.
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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After starting last week below 57.000 USD, WTI Crude Oil found itself above the 62.000 ratio on Friday before going into the weekend, and now day traders have suspicious speculative activity to contemplate.
Explore major market trends this week—gold, oil, silver, NASDAQ, and forex pairs. Key insights into price action and volatility.
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Nvidia edged higher on Thursday, maintaining its uptrend near the 50-day EMA, with a breakout above $185 likely triggering a move toward $195–$200.
The British pound fell sharply against the U.S. dollar on Thursday, testing key support near 1.32 amid persistent dollar strength and range-bound pressure.
The U.S. dollar continued its bullish push against the yen on Thursday, testing the crucial ¥153 level amid rising yields and diverging monetary policies.
Gold rallied on Thursday, testing the $4,200 level as support after heavy losses, but remains vulnerable to a drop toward $4,000 if bullish momentum fades.
The euro remained flat on Thursday, consolidating below key technical levels, with a break under 1.1550 potentially opening the door to deeper losses toward 1.14.
The US dollar gave back early gains against the Swiss franc on Thursday, forming a shooting star near the 0.80 resistance level and signaling possible short-term consolidation.
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Crude oil soared 6% on Thursday following new Russian sanctions, but analysts caution that strong resistance near $62.50 may cap further gains unless follow-through buying emerges.
The NASDAQ 100 climbed above the key 25,000 level on Thursday, maintaining its bullish trajectory with short-term pullbacks seen as fresh buying opportunities.
EUR/USD remains under bearish pressure as traders await US inflation data, with support at 1.1570 and resistance near 1.1730 potentially shaping the next move.
Gold (XAU/USD) remains in a bullish trend despite sharp profit-taking, with prices stabilizing near key psychological support at $4,000.
The USD/MYR remains tightly range-bound near 4.2285 as traders await the upcoming Fed decision, with support at 4.2175 and resistance at 4.2315.
The USD/RUB pair is consolidating near 81.19 with reduced volatility, as traders watch for resistance at 82.40 and support at 80.00 in a quiet market environment.