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.
Oil futures have surged to around $120 per barrel amid the escalating US and Israel-Iran war, disrupting key supply routes and sending shockwaves through global markets.
The S&P 500 continues to see a lot of influence from overseas and of course is reacting to the jobs numbers in America.
I suspect we're still trying to find some type of consolidation range and just simply waiting to see if the war gets any worse. With this, a market moving event has to be in the back of the minds of traders.
The US dollar has fallen against the Canadian dollar on Friday, as traders pay attention to the oil markets heading into the weekend.
Regardless of what is going on around the world, it looks like Nvidia is going to hang onto the range.
Sometimes it's all about what a market won't do, which is what I am paying attention to in the Bitcoin market. With this, I think there are buyers underneath.
The German DAX tried to rally at the beginning of the session on Friday, as people continue to see a lot of negative headlines coming out of the Middle East. Ultimately, this is a market that is moving on headlines more than anything else.
The Swiss Franc has risen against the Japanese yen on Friday, as traders will look at this as a major signal.
The US dollar rallied against the peso on Friday, as traders continued to react to global headlines, and the jobs number that was mixed at best.
The US dollar rallied against the South African rand on Friday, as traders continue to see a lot of risk appetite volatility globally. With this, an opportunity might be presenting itself.
The US dollar rallied against the yen on Friday, as we are taking on the idea of breaking above the crucial 158-yen level.
The WTI crude oil price continued its strong bull run on Monday as the war in Iran continued, pushing more countries to reduce production and shipments. It jumped to a high of $119, the highest level in over 2 years and has more than doubled from the lowest level this year.
The CAD/JPY exchange rate continued rising, reaching its highest level since July 2024 as the war in Iran exposed Japan to a major oil shock. It jumped to a high of 116.35, up sharply from last year's low of 101.17.
The GBP/USD pair rose slightly as traders reacted to the latest US jobs numbers, which showed that the labor market was facing substantial strains. It was trading at 1.3410, up substantially from this month's low of 1.3256.
The EUR/USD pair rose after the US released a weak February jobs report on Friday. It jumped to 1.1616 on Monday, up from last week’s low of 1.1530. The pair will be in focus this week as the war escalates and as the US releases the latest consumer inflation report.
