It's worth noting that the British pound has pierced the 1.2350 level. Breaking down below there is a very negative turn of events, but we have held on to that order to show signs of resiliency.
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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Bitcoin finds support near $90,000 after testing a key trend line, with long-term traders eyeing potential gains toward $100,000 amid easing yields.
Apple finds support near the 50-day EMA and Fibonacci levels, with $245 as critical resistance and a bullish outlook ahead of its earnings call.
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During the trading session on Wednesday, we had seen the US dollar spike a bit against the Mexican peso as interest rates climbed again in the early hours.
The Australian dollar finds temporary support above 0.62 but remains under pressure due to US dollar strength and China's economic challenges.
The GBP/USD pair continues its downtrend, pressured by Fed hawkishness and rate divergence, as sellers target 1.2200 ahead of US NFP data.
EUR/USD falls for 5 weeks, hits lowest since Nov 2022, down nearly 10% from August peak.
Bitcoin stabilizes above crucial support, signaling potential upside toward $100,000, while bearish risks remain below the 50-day moving average.
The euro continues to weaken against the US dollar, driven by diverging economic fundamentals, with parity likely and rallies seen as shorting opportunities.
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The British pound tests resistance at 200 yen, with bullish momentum supported by the 50-day EMA, eyeing a breakout toward 207 yen if the barrier is breached.
The US dollar gains strength against the Japanese yen, fueled by rising US yields and BOJ policy limits, with potential to break above 158.50 and beyond.
Natural gas consolidates in a bullish pattern, driven by cold U.S. weather and European LNG demand, with a potential breakout above $4 toward $4.50 or higher.
The US dollar continues its upward trend against the Canadian dollar, supported by US economic optimism and Canadian political uncertainty, as the pair eyes the 1.45 level.
The US dollar is the clear winner in the FX market, not only against the Swiss franc, but against a ton of other currencies, which of course makes quite a bit of sense.
During the trading session on Tuesday, we broke down pretty significantly in the USD/MYR pair, which is a bit of an outlier when it comes to the Forex world at the moment.