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.
Most Recent
The EUR/USD exchange rate has proven to be a resilient pair in recent days.
The pound sterling began trading in 2024 on a positive note, but strong technical resistance and three key data releases in the UK suggest that the downside risks are elevated in the coming days.
Despite the strength of the US dollar, the price of gold (XAU/USD) shows stability, as it stabilizes around the level of $2055 per ounce at the time of writing the analysis.
Top Forex Brokers
Since the start of trading this week, the USD/JPY pair has been on an upward bounce, with gains that have reached the resistance level of 146.26.
During Monday's trading session, the US dollar had a significant rally against the Japanese yen, despite limited liquidity due to the observance of Martin Luther King Jr. Day in the United States.
The Australian dollar experienced a slight retreat in Monday's trading session, reflecting prevailing uncertainties surrounding global risk appetite.
The Gold markets have displayed a degree of noise but have generally trended positively.
The EUR/USD exchange rate moved sideways on Tuesday as geopolitical risks remained and as traders reflected on a hawkish statement from an ECB official.
The GBP/USD pair remained in a consolidation mode as traders assessed the next actions by the Federal Reserve.
Bonuses & Promotions
Bitcoin moved sideways as the recent Bitcoin ETF hype fizzled out. The BTC/USD pair remained unchanged at 42,900, where it has been stuck at since Friday.
My previous signal on 9th January was not triggered as none of the key support or resistance levels were reached that day.
Bitcoin experienced a slight pullback during the recent trading session, showing signs of confusion following the announcement of the ETF.
The British pound initially tried to rally during the day on Monday but has given back the gains to show hesitation to breach the major resistance barrier just above in the form of the 1.2750 level, an area that has proven itself to be worthy of note more than once.
The S&P 500 had a rather subdued electronic trading session overnight due to the observance of Martin Luther King Jr. Day in the United States, which kept the underlying index closed for regular trading.
Silver has maintained a relatively stable position in recent trading sessions, with limited changes observed.