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 rose sharply a few hours ago after President Trump announced the creation of a strategic cryptocurrency reserve which would include holdings of Bitcoin.
The AUD/USD continues its sharp decline amid rising RBA rate cut expectations and US dollar strength, with key support at 0.6100 in focus.
The GBP/USD pair pulls back amid risk-off sentiment but is forming an inverse head & shoulders pattern, suggesting a potential rebound toward 1.2765.
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The EUR/USD pair continues its decline after forming a double-top at 1.0505, with traders eyeing key economic data and a potential drop toward 1.0300.
Markets have moved into a decisive risk-off mode, with the USD on top, as stocks, commodities, and commodity currencies look generally weak.
The EUR/USD snapped lower on Friday in the wake of the public argument between the U.S White House and President Zelensky of Ukraine, the currency pair ended trading near 1.03738.
Selling continued to be seen in Coffee Arabica this past week, and speculators dreaming about taking advantage of an anticipated downturn in the commodity following its strong bullish trend the past year and a half may be getting intrigued.
WTI Crude Oil will begin this week of trading below the 70.000 USD ratio, the commodity went into this weekend near 69.770 and this was above Wednesday and Thursday’s lower prices.
The EUR/USD experienced two bursts of volatility in February, one early in the first week and the second the past few days, causing speculators and financial institutions to now examine intriguing outlooks for March.
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The month of March will see the USD/INR begin trading near its highest values once again, following in the footsteps of a quicker bullish run upwards which began in late November.
The USD/ZAR saw some volatility in February due to influences from afar globally and within domestically, this as financial institutions reacted to swirling winds and fragile outlooks.
Weekly insights on USD/JPY, NASDAQ, Gold, and more.
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USD/MXN March outlook: Eyes on 20-21 MXN range. Potential to reach 23 MXN.
March S&P 500: Watching 5800 & 6125 for key moves. Potential for breakout to 6450.
March WTI outlook: Stuck between $67-$70.50, with potential for higher demand impacts.