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 euro continues to seek direction against the Japanese yen, hovering near the key 155 support level.
GBP/USD has surged to its highest level since December but faces a potential bearish reversal due to a rising wedge pattern, with support at 1.2535 in focus.
The EUR/USD pair consolidates near resistance at 1.0506 as markets anticipate US GDP and PCE data, with a breakout to 1.0600 or a drop to 1.0400 in focus.
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The NZD/USD has lost ground in early trading today as risk adverse conditions from afar seemingly hinder near-term behavioral sentiment for those seeking upwards movement.
We have frequently pointed out the possibility of profit-taking selloffs in gold prices after they tested their all-time highs, reaching the resistance level
The USD/RUB has continued to move lower as financial institutions clearly are weighing the prospects of Russia being allowed to reenter potentially unsanctioned trading avenues.
Since the start of this week's trading, the EUR/USD pair has been attempting to rebound upwards, with gains reaching the resistance level of 1.0528
As you can see, the Australian dollar has fallen a little bit during the trading session here on Tuesday as we continue to bounce around the crucial 0.6350 level. This is an area that I think has been important more than once, and therefore you need to watch it very closely. That being said, I also believe that this is a market that given enough time will have to make a bigger decision. After all, we have a scenario where traders are trying to sort out risk appetite, and of course, whatever's going on in the bond markets.
It's been quite a wild day during the trading session on Tuesday, as we have been all over the place going back and forth in the British pound against the Japanese yen as the market tries to determine risk on or risk off.
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The Canadian dollar has fallen significantly during the trading session on Tuesday against the Swiss franc, which does make sense considering that Donald Trump has reiterated the idea of tariffs coming to Canada on March 4th, and nothing has changed in his opinion.
The U.S. dollar has initially fallen a bit against the Mexican peso but has since turned around to show signs of life. By doing so, the market has bounced off of the crucial 50 day EMA, which of course is an indicator that a lot of people will be watching closely.
The US dollar has gone back and forth during the course of the trading session on Tuesday, as the market is hanging around the 150 yen level, the 150 yen level, of course, is an area that has a certain amount of psychology attached to it as it is a large round psychologically significant figure. But it's also an area that's been important more than once.
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Cryptocurrency prices are seeing immense sell pressure as the month of February winds down, hampered by macro factors weighing on the market while traders also grapple with the fallout from the ByBit hack, which saw $1.5 billion flow into the coffers of hackers.
USD/CAD gains as trade tensions rise. Buy signal at 1.4320, target 1.45. Full analysis and key levels.
EUR/USD struggles at 1.05-1.06 resistance. A breakout could target 1.10, while a drop may lead to 1.02.