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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WTI Crude Oil has gone into this week around the 64.640 price as the commodity returned to its lower technical range before the weekend started.
This week's market outlook covers DAX, copper, silver, gold, NASDAQ 100, USD/CAD, USD/JPY, and EUR/USD as summer trading drags on.
The British pound declined slightly against the US dollar, signaling possible consolidation despite its broader uptrend, with 1.3350 as support and 1.36 as resistance.
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Nvidia continues its bullish breakout trajectory, with traders eyeing a break above $175 and potential gains toward $185, while dips to $165 are seen as buy zones.
The DAX index declined from key resistance at €24,600 following the ECB’s decision to pause rate changes, with strong technical support near €24,000 and the rising 50-day EMA.
Bitcoin remains firmly bullish, consolidating just under the $120,000 resistance with technical patterns suggesting a breakout toward $130,000 is likely.
The NZD/USD pair failed to hold early gains on Thursday, forming a shooting star near resistance at 0.61 as the pair remains trapped in a long-term range.
Silver rallied from a dip on Thursday as buyers remain active above $37.50, with bullish momentum and industrial demand supporting a push toward the $40 level.
Gold slipped back into its inner consolidation range on Thursday, with low volume and technical support near $3,200 shaping a cautious but still bullish outlook.
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The US dollar bounced off the 50-day EMA against the yen on Thursday, signaling a potential move toward 148 as interest rate differentials drive sentiment.
The Euro remained rangebound after the ECB held interest rates, with traders watching key levels at 1.18 and 1.15 for clues on future direction.
The S&P 500 paused on Thursday following a strong prior session, with traders eyeing value opportunities amid a slow but persistently upward summer trend.
BNB is trading around $767, maintaining its position above key support after briefly touching a new all-time high near $804 earlier this week.
The EUR/USD pair extended its bullish momentum toward 1.1785 on July 24, supported by investor optimism over trade progress and anticipation of a critical ECB policy announcement.
Gold (XAU/USD) faces profit-taking pressure after hitting a five-week high, with traders eyeing $3380 support and awaiting ECB and Fed policy cues.