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 Australian dollar continues to rocket to the upside as it looks like we are heading toward the 0.69 level, given enough time, as the Chinese economy and the RBA support it.
The British pound continues to rise against the US dollar on Friday, as we have seen a lot of strength in the UK economy.
The fact that we have stopped selling off in and of itself is a bit of a victory when you stop to think of all the things that are going on with risk appetite around the world.
Friday has seen the US dollar drop against most currencies around the world, including the Canadian dollar. At this point, it is more of a USD story than anything else.
The Euro was grinding just a touch higher despite the fact that it initially fell as the day started. Ultimately, we find ourselves watching the same important level heading into the weekend.
The S&P 500 has been somewhat noisy on Friday, as traders around the world have many things to ponder, including tariffs, geopolitics, and the US labor markets.
Extremely strong rises in Gold and Silver, driven partly by a lack of trust in US leadership and global monetary policies, are sending prices soaring to new all-time highs.
The USD/ZAR is near the 16.02000 level early this morning as global financial markets have turned dynamic and Forex has provided day traders fast speculative conditions.
EUR/USD bullish, hits 1.1897. Signals: Buy @ 1.1760, Sell @ 1.1960. Weak USD & Fed anticipation drive gains. Sell near 1.2000 resistance advised.
Gold hits record $5110; trend strongly bullish. Trading signals: Buy @ $4940, Sell @ $5220. Weak USD & geopolitics drive rally. Buy pullbacks advised.
The GBP/USD exchange rate jumped to the highest level since September last year, continuing an uptrend that started in November last year when it bottomed at 1.3017. It rose after the UK published strong macro numbers, raising the odds of a Federal Reserve and Bank of England divergence.
The EUR/USD exchange rate continued its recent rally and crossed the important resistance level at 1.1805 as the US dollar retreated and as the Greenland crisis eased. It has jumped by 2.10% from its lowest point this month.
The Australian dollar continued its strong upward momentum as investors reacted to the latest jobs numbers, which raised odds of an interest rate hike. The AUD/USD pair rose to a high of 0.6900, its highest level since September 24. It has soared by over 16% from its lowest in April last year.
Tensions between the USA and the EU seem to have resolved, but war drums continue to beat over Iran, as high volatility finally returns to the Forex market, while Silver and Gold soar to new record highs.
The EUR/USD jumped on Friday and went into the weekend around the 1.18263 ratio, this after trading near highs which were testing the 1.17500 resistance mark most of the week.
