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 Reserve Bank of Australia (RBA) lowered the cash rate by a quarter-point to 3.85% at today’s meeting.
USD/JPY stabilizes at 145. A break above the 50-day EMA may lead to 148.40. Buyers remain in control.
USD/CAD finds support at 1.39. Choppy trading likely, but bulls eye 1.42 if resistance at EMAs is cleared.
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NASDAQ 100 holds 21,000 as buyers step in. 20,000 remains key support with EMAs nearing a golden cross.
USD/MXN falls under 19.50. Traders target 19.00 as Mexico gains on trade hopes and favorable interest rate spread.
BTC holds strong near $104K. Breakout above $110K could trigger rally toward $125K. Dips to $100K seen as buy zones.
Bitcoin’s (BTC) price trades 39% above its multi-month low of $74,400 reached on April 7. This rally brought BTC within 2% of its all-time high of $109,000 when it hit a five-month high at $107,100 on May 19.
The US dollar initially dipped a bit against the Swiss franc, only to turn around and show signs of life.
During the trading session on Friday, we have seen the US dollar initially pulled back a bit, but it has turned around to show signs of life again
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Euro struggles below 1.12. A break lower may target 1.0950 amid renewed USD strength.
Oil finds support at $60. A break above $65 may push it to $70 as traders look for signs of a trend shift.
GBP struggles vs USD and may drop to 1.30 if the 1.3140 support fails. Market remains under pressure.
Gold holds near $3,000 support. A breakout could target $3,400, but volatility remains high. Trade with caution.
Natural gas slips near 200 EMA. Weak demand and seasonality could push prices toward $3.00 or lower.
Silver holds support at $32. Resistance remains at $34, with potential upside toward $35 if breakout occurs.