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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The USD/CAD pair rallies as trade tensions between the US and Canada escalate, with a potential breakout above 1.44 paving the way for a move toward 1.45.
The British pound is testing key resistance at the 200-day EMA and 1.2750, with a breakout signaling bullish momentum, while a drop below 1.26 could spark renewed US dollar strength.
The USD/CHF pair remains between key technical levels, with the 200-day EMA providing support and resistance at 0.92, as traders assess US interest rate trends and Swiss National Bank policy.
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Gold continues to consolidate after recent gains, with key support at $2900 and $2850, while traders eye the $3000 level as a potential resistance point.
Bitcoin's price plunged on Wednesday, approaching the 200-day EMA, with concerns over risk appetite and economic slowdowns potentially driving it toward the $74,000 support level.
The British Pound is attempting to rally against the Swiss Franc, with support from the 50-day EMA, as traders watch the crucial 1.14 resistance for a potential breakout toward 1.16.
The NASDAQ 100 is holding support at 21,000, with traders eyeing a potential breakout above the 50-day EMA at 21,500, especially ahead of Nvidia’s earnings report.
Silver rallied on Wednesday, finding support at the 50-day EMA, with key resistance at $32.35 and a potential upside target of $35 if momentum builds.
Bitcoin dropped to a 3-month low near $81,756 but rebounded strongly, with key resistance levels at $87,972 and $91,250 likely to determine the next move.
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The euro continues to seek direction against the Japanese yen, hovering near the key 155 support level.
GBP/USD has surged to its highest level since December but faces a potential bearish reversal due to a rising wedge pattern, with support at 1.2535 in focus.
The EUR/USD pair consolidates near resistance at 1.0506 as markets anticipate US GDP and PCE data, with a breakout to 1.0600 or a drop to 1.0400 in focus.
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The NZD/USD has lost ground in early trading today as risk adverse conditions from afar seemingly hinder near-term behavioral sentiment for those seeking upwards movement.
We have frequently pointed out the possibility of profit-taking selloffs in gold prices after they tested their all-time highs, reaching the resistance level
The USD/RUB has continued to move lower as financial institutions clearly are weighing the prospects of Russia being allowed to reenter potentially unsanctioned trading avenues.