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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We have seen a lot of volatility in this market.
We initially tried to rally but after the jobs report became such a mess in the United States, we have seen a complete turnaround and the market falling apart.
The EUR/USD exchange rate retreated after the US published mixed jobs numbers ahead of the upcoming European Central Bank (ECB) decision.
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Bitcoin price continued falling as investors rotated from risky assets.
The AUD/USD pair retreated sharply as the US dollar bounced back after last Friday’s non-farm payrolls (NFP) data.
Last week, increasingly dovish expectations emerged in markets of the US Federal Reserve after relatively weak non-farm payroll data was released on Friday. Fears of a hard landing for the US economy built all week, generating stronger risk-off sentiment.
The EUR/USD exchange rate started last week’s trading rather comfortably near the 1.10400 to 1.10500 ratios, but by Tuesday nervous conditions globally certainly started to be seen as financial institutions began to question existing outlooks.
Traders were treated to a full week of price velocity within WTI Crude Oil as behavioral sentiment shifts in global financial markets clearly started to express nervousness.
Get the weekly Forex forecast for major currency pairs for the week of September 09-14, 2024 here.
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In my daily analysis of minor forex pairs, the AUD/NZD the pair looks very interesting, because we have seen the Australian dollar try to rally a bit during the early hours on Thursday but gave back gains as we approached the 200-Day EMA.
In my daily analysis of the New Zealand dollar, the first thing that captures my attention is that we have had another day of positivity, which of course is a very bullish sign.
In my daily analysis of the GBP/USD pair, the market looks as if it is going to continue to go higher, and you can also make an argument that we are forming some type of bullish flag or possibly some type of pendant.
In my daily analysis of exotic currency pairs, the Australian dollar/Singapore dollar currency pair has been of interest to me.
In my daily analysis of the gold market, the first thing that I notice is that although we were very strong in the early part of the session, it’s worth noting that we gave back about half of the gains by midday during New York trading.
As you can see, the silver market rallied rather significantly during the course of the trading session on Thursday, breaking above the 50 day EMA before turning around and showing signs of hesitation.