Gold rallies after weaker US jobs data boosts Fed rate cut expectations, but thin holiday liquidity and resistance near $4,200 keep the outlook cautious.
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 Nasdaq 100 stalls near 30,000 after weaker jobs data as traders watch consolidation, AI trade pressure, and dip-buying opportunities.
EUR/USD remains bearish below 1.1400 as traders await US jobs data, with Fed tightening expectations and Eurozone inflation trends driving sentiment.
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Gold holds near $4,000 as traders await US NFP data, with Treasury yields, Fed rate expectations, and cautious technical signals shaping XAU/USD.
Copper remains choppy above $6.00 as traders await Thursday’s jobs report, while long-term demand, supply constraints, and the 50-day EMA support the bullish outlook.
USD/JPY remains choppy but supported as interest rate differentials, the 160 yen floor, and long-term bullish momentum keep buyers active on dips.
Bitcoin remains volatile near $60,000 as traders watch US jobs data, risk appetite, downside pressure, and resistance near the 50-day EMA.
AUD/USD remains noisy near the 200-day EMA as traders await US jobs data, Fed rate expectations, and key levels at 0.6950 and 0.6850.
GBP/USD rebounds from support as traders prepare for Thursday’s NFP report, Fed rate expectations, Dollar volatility, and key levels near 1.32 and 1.33.
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Shiba Inu (SHIB) is trading under pressure today after losing momentum near the $0.000005 area. The token is down roughly 1.5% over the past 24 hours, with market capitalization sitting near $2.86 billion.
The USD/MYR has tracked lower in recent sessions and as of this writing is near the 4.0820 ratio, this after the currency pair fought off highs from last week and has incrementally started to test support levels.
USD/ILS trades near 3.0000 as US holiday volume, quiet Israel trading, Shekel strength, and thin liquidity raise volatility risks.
GBP/USD: Have Bulls Asserted Control?
Silver remains noisy near $60 as Fed rate hike expectations, US Dollar strength, and weak momentum keep short sellers focused on fading rallies.
Gold churns near the $4,000 level ahead of Thursday’s NFP data as traders weigh Fed rate hike expectations and key breakout levels.