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.
The US dollar continues to tread water against the ZAR on Monday, as traders are trying to weigh risk appetite.
Bitcoin (BTC) is flashing a rare “buy” signal in its weekly time frame, one that previously ignited a massive rally in price.
In early morning trading today the USD/MXN has seen increased velocity upwards and is sustaining prices near the 17.36200 vicinity with fast fluctuations being demonstrated.
As of this writing the USD/ZAR is around the 16.33800 ratio depending on the bids and asks, and as a wide spread is being seen in the currency pair, and as the broad Forex market remains jittery.
The GBP/USD exchange rate will be in the spotlight this week as the geopolitical tensions remain and the Office of National Statistics (ONS) releases key macro data. It was trading at 1.3520, a few points below last week's high of 1.3600.
The EUR/USD pair retreated slightly below the psychological level of 1.1800 as focus remained on the rising tensions between the US and Iran. If dropped to 1.1765, down sharply from this month's high of 1.1850.
The AUD/USD exchange rate pulled back on Monday morning, erasing some of the gains made on Friday when it soared to its highest level since June 2022 as geopolitical tensions eased. The pair was trading at 0.7167 a few points below the year-to-date high of 0.7225.
As rates drop, it looks like Bitcoin is ready to jump.
Given enough time, I think that the gold markets continue to follow bonds and rates.
The US dollar dumped against the Japanese yen on Friday, as traders continue to pay close attention to the interest rate markets.
The NASDAQ 100 jumped on Friday, as we got word that the Iranians are keeping the Strait of Hormuz open as long as the ceasefire exists.
The $80 level in silver being broken to the upside, as the market continues to follow the interest rate markets.
The British pound has been pretty noisy on Friday, as the markets continue to look for a reason to break out of a short-term compression area.
The German DAX jumped quickly on Friday, as the interest rates in Germany dropped.
The euro showed signs of weakness against the Swiss franc on Friday, as the weekend looms large via headlines in the Middle East.
