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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I have often noted and recommended buying the US dollar against the Japanese yen from every downward level.
For two consecutive trading sessions, the British pound has retreated from its recent highs against the US dollar, but this weakness is likely temporary.
Since the middle of this week's trading, Gold/USD (XAU/USD) has been in a downward correction path with losses extending to the support level of $3222 per ounce
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The success of the current EUR/USD selling operations in moving below the 1.1270 support level will give bears more momentum to form a bearish channel opposite
After falling from the 21.00 level in April, USD/MXN may continue to decline in May as interest rate differentials and improving sentiment favor the peso.
After bouncing off the 4800 level in April, the S&P 500 enters May with cautious optimism, facing volatility but aiming toward a potential move above 5800.
After rebounding above key support, the NASDAQ 100 enters May with bullish potential toward 20,000, though volatility and trade tensions may test momentum.
After strong gains, gold enters May with bullish momentum but faces resistance at $3500, making a pullback toward $3200 a likely opportunity for buyers.
Gold prices remain stable in a narrow range above $3265 as bullish momentum builds, with upside targets at $3400 and $3460 amid rising safe-haven demand.
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Crude oil remains range-bound between $55 and $65, with May’s outlook hinging on global trade tensions, OPEC output, and US seasonal demand trends.
USD/INR trades sideways near ₹85 as May opens, with geopolitical risks and global uncertainty poised to drive a potential move toward ₹88 or ₹83.50.
After a strong April, EUR/USD faces pivotal resistance at 1.15, with May’s direction likely driven by global uncertainty and shifting US bond demand.
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After falling through April, USD/ZAR may find support between 18.25 and 17.65 in May, with global uncertainty likely to limit further Rand strength.
EUR/USD remains bullish above 1.1400 as traders anticipate pivotal US data releases, with 1.1550 as a key upside target and 1.1280 support in focus.
USD/CAD remains range-bound as traders watch the 1.40 breakout level for a bullish move, with 1.38 as key support amid neutral technicals and political shifts.