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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USD/CHF: Long-term, the US dollar is bullish against the Swiss Franc, right now this is a potential “buy on the dips” market just waiting to happen
This market has seen a rebound, rising to a high of 1.2338, up from this month’s low of 1.2100.
EUR/JPY: Lots of volatility as the market awaits the Bank of Japan interest rate decision on Friday with the probability traders are looking at a period of consolidation
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Bitcoin resumed the uptrend, nearing its all-time high of 109,217 as excitement about the new pro-crypto administration continued
Dow Jones 30: Rallying after a pullback, the DJ30 is poised for a breakout to the upside, with a potential 1500-point gain from the breakout point
This pair will likely continue rising as bulls target the important resistance level at 0.6350
DAX: Still on a bullish run, hanging out above the 21,000 level, with plenty of buyers on the dips
The USD/BRL remains within higher price boundaries as 6.0000 has seemingly become an inflection point again for financial institutions and speculators.
The USD/SGD has seen sharp price action early today, essentially mirroring global Forex as financial institutions filter the power change in the U.S political sphere that is impacting outlooks.
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Price action is suggesting that a near-term rise is likely, but it seems like its not going to go very far.
USD/MXN: The peso is in a holding pattern as we wait to see how aggressive Trumps Mexico policy will be
FTSE 100: Generally bullish, the index has more upward momentum but is currently slightly overextended creating a buy-on-the-dip opportunity
Ethereum: Looking bullish, short-term pullbacks continue to trigger buying, with a “value area” at the $3400 level
USD/CHF: Looking at a short-term drift lower, while a massive bottoming pattern forms, creating a potential buy-on-the-dip scenario
The EUR/USD exchange rate rose as the US dollar index dropped by over 1%. It rose to a high of 1.0430, its highest swing since January 7, and about 2.45% from its lowest level this month. So, what next for the euro after Donald Trump’s inauguration?