According to recent trading, gold is facing a major test of investor appetite as the Federal Reserve begins a long-awaited pivot to lower US interest rates.
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
Bullish speculators of the EUR/USD were rewarded last week as the currency pair reversed from lows early Monday and went into the weekend in sight of mid-term values.
WTI Crude Oil went into this long holiday weekend showing that it had the ability to maintain price values above the 73.000 USD level.
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This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
The US Dollar fell, and stocks rose last week, boosted by increasing sentiment expecting earlier Fed rate cuts in 2024.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of December 24th, 2023 here.
The GBP/USD rallied a bit during the trading session on Thursday, as we continue to see downward pressure on the US dollar.
Bitcoin exhibited a notable surge during Thursday's trading session, signaling a potential breakout to higher levels.
Ethereum displayed a modest rally during Thursday's trading session, indicating a readiness to attract more buyers in the future.
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The gold market exhibited a modest rally during Thursday's trading session, maintaining its upward pressure.
Silver displayed a modest rally during Thursday's trading session, underlining the enduring interest in this market, particularly as interest rates in the United States continue to decline.
The AUD/USD showed significant strength in the recent trading session, indicating that it's preparing for a substantial move in the market.
The crude oil markets exhibited significant volatility in early Thursday trading, with market participants adjusting their positions ahead of the holiday season.
The EUR/USD displayed a modest rally during Thursday's trading session, hinting at a potential advance towards the critical 1.10 level.
The S&P 500 index rebounded slightly during the early hours of Thursday, following a significant drop late on Wednesday.