The US Dollar has continued to fall significantly, while the US stock market failed by its record high, and Silver continued to lead precious metals higher.
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 GBP/USD has gone into this weekend near 1.33670, this after starting the week around 1.33100 and touching a momentary high about 1.34325 on Thursday.
WTI Crude Oil has gone into this weekend around the 57.145 price which is challenging lower prices seen in October of this year, the commodity provided bearish speculators with incremental movement downwards this past week.
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Weekly review of USD, EUR, GBP, Bitcoin, and Nasdaq highlighting key technical levels for smarter trading decisions.
Silver continues its explosive rally, touching $65 on Thursday as momentum, short squeezes, and structural supply shortages drive extreme price action.
The US dollar recovered against the yen on Thursday after bouncing from the key 155 level, reaffirming it as strong support.
The NASDAQ 100 shook off early weakness from Oracle’s disappointing outlook on Thursday, reaffirming dip-buying behavior near the 25,000 support level.
Gold spiked higher Thursday, driven by strong momentum and tailwinds from Federal Reserve easing. With $4,200 holding as a key support level, the bullish trend points toward $4,400 next—and possibly $5,000 in the coming months.
USD/INR surged on Thursday as shifting bond market expectations fueled dollar strength, with the Fed's rate cut and T-bill purchases contrasting India’s anticipated bond buying.
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EUR/JPY recovered from early losses on Thursday, with the euro supported by higher interest rates and expectations of continued BOJ bond buying.
USD/CAD failed to hold gains above 1.38 as resistance pushed the pair lower, with Fed bond purchases and narrowing rate differentials adding pressure.
Bitcoin remains under pressure following the Fed's rate cut, with conflicting technical patterns adding to market indecision.
Natural gas fell over 8% on Thursday after inventory data revealed storage levels 3% above the 5-year average, sparking a steep sell-off.
Gold (XAU/USD) holds firm near $4247 as markets digest the Fed's rate cut and cautious tone. With RSI near overbought and MACD bullish, the trend remains upward.
The EUR/USD pair is showing early signs of a bullish breakout after rebounding from support post-Fed rate cut.