Best Forex Technical Analysis By Capital Street FX

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Daily FX Analysis – Red Sea, Stable EUR, AUD Retreats, USD/JPY Eyes BoJ.​

Introduction​

The GBP/USD consolidates above 1.2700 amid modest USD weakness, driven by a positive risk-on environment. Despite a rebound in the pair, rising tensions in the Red Sea pose potential challenges. Meanwhile, EUR/USD stabilizes near 1.0900, influenced by an improving risk mood. The Australian Dollar retraces gains as the market awaits potential policy rate reduction by the Australian Central Bank. Japanese Yen struggles against the USD, with investors anticipating dovish actions from the Bank of Japan amid geopolitical risks and China’s economic concerns.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Above 1.2700 On Modest USD Weakness.​

GBP/USD kicks off the new week on a positive note, trading above 1.2700 early Monday. The risk-on environment bolsters the rebound of the major pair. However, the rising tension in the Red Sea might boost safe-haven asset demand and cap the pair's upside. GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in the European morning on Monday. Nevertheless, investors remain indecisive about the Federal Reserve (Fed) policy pivot timing ahead of this week’s key growth and inflation data from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 51.69 | Buy Zone | Bullish

Stochastic Oscillator : 55.73 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2685 | Take Profit: 1.2792 | Stop Loss: 1.2619

EUR/USD​

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Daily FX Analysis – Red Sea, Stable EUR, AUD Retreats, USD/JPY Eyes BoJ.​

Introduction​

The GBP/USD consolidates above 1.2700 amid modest USD weakness, driven by a positive risk-on environment. Despite a rebound in the pair, rising tensions in the Red Sea pose potential challenges. Meanwhile, EUR/USD stabilizes near 1.0900, influenced by an improving risk mood. The Australian Dollar retraces gains as the market awaits potential policy rate reduction by the Australian Central Bank. Japanese Yen struggles against the USD, with investors anticipating dovish actions from the Bank of Japan amid geopolitical risks and China’s economic concerns.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Above 1.2700 On Modest USD Weakness.​

GBP/USD kicks off the new week on a positive note, trading above 1.2700 early Monday. The rebound of the major pair is bolstered by the risk-on environment. However, the rising tension in the Red Sea might boost safe-haven asset demand and cap the upside of the pair. GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in the European morning on Monday. Nevertheless, investors remain indecisive about the timing of the Federal Reserve (Fed) policy pivot ahead of this week’s key growth and inflation data from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.69 | Buy Zone | Bullish

Stochastic Oscillator : 55.73 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2685 | Take Profit: 1.2792 | Stop Loss: 1.2619

EUR/USD​

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Daily Commodity Analysis – oil, gas plunge, gold, copper struggle.​

Introduction​

Oil prices decline on Monday as global economic concerns weigh on the demand outlook, overshadowing geopolitical tensions in the Middle East. U.S. crude futures slip to $73.13 a barrel, reflecting prevailing market sentiment. Meanwhile, natural gas prices plummet 24% amid warmer weather forecasts. Gold faces pressure from expectations of prolonged higher interest rates, while copper edges lower due to weak economic outlook in China, indicated by underwhelming GDP figures and limited policy support from the People’s Bank of China.

Markets In Focus Today – BRENT CRUDE OIL​

Oil Down As Economic Headwinds Weigh On Demand Outlook.​

Oil prices lost more ground on Monday as economic headwinds pressured the global oil demand outlook and offset geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. The front-month U.S. West Texas Intermediate crude futures, for February delivery, were down 28 cents to $73.13 a barrel with the contract set to expire later on Monday. The more active March WTI contract was at $73.04 a barrel, down 21 cents. This morning’s subdued re-open speaks volumes about current sentiment in the crude oil market despite ongoing geopolitical tensions in Europe and the Middle East.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 78.16 | Negative Crossover | Bearish
• MA 20 : 78.11 | Negative Crossover | Bearish
• MA 50 : 79.44 | Negative Crossover | Bearish

Simple :​

• MA 10 : 78.05 | Negative Crossover | Bearish
• MA 20 : 78.08 | Negative Crossover | Bearish
• MA 50 : 78.64 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 48.94 | Buy Zone | Bullish

Stochastic Oscillator : 63.41 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 80.60 R2 : 82.82
• S1 : 73.40 S2 : 71.18

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 77.32 | Take Profit: 74.65 | Stop Loss: 79.29

NATURAL GAS​

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Daily Index Analysis – DOW soars, S&P 500 breaks records, FTSE defies storm.​

Introduction:​

After Wall Street’s record-setting rally, Asian markets displayed varied performances on Monday. The Shanghai Composite declined by 2.68%, while Japan’s Nikkei 225 rose by 1.62%. In Europe, shares mirrored the positive trend, with DAX futures up 0.48%, CAC 40 futures rising 0.49%, and UK 100 futures gaining 0.15%. The S&P 500 in the U.S. reached a two-year closing high on Friday, propelled by optimism in artificial intelligence and a surge in chipmakers and major tech stocks. Attention now shifts to the European Central Bank (ECB).

Market In Focus For Today – DOW JONES​

Bullish signals are evident in the Dow Jones Industrial Average (DOW) as it experiences a current surge, surpassing the $37,791.43 level. This breakout suggests a departure from a triple-top pattern.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 37991.98 | Positive Crossover | Bullish
• MA 20: 37702.84 | Positive Crossover | Bullish
• MA 50: 37771.71 | Positive Crossover | Bullish

Simple:​

• MA 5: 38023.05 | Positive Crossover | Bullish
• MA 20: 37702.22| Positive Crossover | Bullish
• MA 50: 37771.34 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 64.98| Buy Zone| Bullish

Stochastic Oscillator: 100| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 38154.50 | R2: 38784.03
• S1: 37362.51| S2: 36672.06

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 37585.89 | Take Profit: 38296.65| Stop Loss: 37139.13.

S&P 500:​

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Daily Crypto Analysis – Bitcoin dips, Ethereum struggles, Doge soars, Ripple-SEC clash.​

Introduction​

Bitcoin struggles above $41,000 as whales make strategic moves on a major exchange, closing leveraged positions and increasing USDT reserves. Ethereum faces scalability challenges with high fees affecting d App adoption. Doge coin’s market cap reaches $12 billion amid speculation of integration into Elon Musk’s X Payments. Ripple responds to the SEC, contesting the regulator’s request for what it deems irrelevant information in the ongoing legal battle.

Markets In Focus Today – BITCOIN​

Bitcoin Price Ranges Sideways Above $41,000 As Whales Make Strategic Moves In BTC.​

Bitcoin price is trading on the defensive above $41,000 on Monday after a week-long decline. Whales on a leading crypto exchange have closed their leveraged positions, leading to a significant increase in USDT reserve. Bitcoin (BTC) is struggling on Monday morning to keep its head above volatile waters, trading at $41,000, after its value fell last week. A decline in open interest by large-wallet investors (popularly known as whales), coupled with an increase of their Tether (USDT) reserves on Bitfinex, suggests that the downward trend for BTC price could extend in the short term.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42183.75 | Negative Crossover | Bearish
• MA 20 : 42780.74 | Negative Crossover | Bearish
• MA 50 : 42093.87 | Negative Crossover | Bearish

Simple :​

• MA 10 : 42064.81 | Negative Crossover | Bearish
• MA 20 : 43483.88 | Negative Crossover | Bearish
• MA 50 : 43234.64 | Negative Crossover | Bearish

RSI (Relative Strength Index): 40.09 | Neutral Zone | Bearish

Stochastic Oscillator : 13.01 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 44310.51 R2 : 45983.99
• S1 : 38893.00 S2 : 37219.52

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 41056.53 | Take Profit: 38784.66 | Stop Loss: 42462.92

ETHEREUM​

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Daily FX Analysis – EUR/USD, GBP/USD, AUD/USD, USD/JPY Dynamics.​

Introduction​

EUR/USD hovers near 1.0880, tracing the 38.2% Fibonacci level in the early European session, driven by a US Dollar retracement. Wednesday’s bullish momentum to 1.0930 retreated later as the USD rebounded. Investors await the ECB’s policy announcements. GBP/USD experiences a downturn after reaching a two-week high, currently trading around 1.2710. AUD/USD faces a second day of losses at 0.6570 amid an enhanced US Dollar, reacting to positive S&P PMI data. USD/JPY retreats from a one-week peak following the Bank of Japan’s hawkish stance.

Markets In Focus Today – EUR/USD​

EUR/USD Moves Lower To Near 1.0880 Followed By The 38.2% Fibonacci Level.​

EUR/USD traded lower near 1.0880 during the early European session on Thursday as the US Dollar makes efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the pair is positioned below the 50 mark, indicating a bearish momentum in the market. EUR/USD gathered bullish momentum and advanced to the 1.0930 area on Wednesday. With the US Dollar (USD) staging a rebound later in the day, the pair erased a large portion of its daily gains and returned below 1.0900. Investors await the European Central Bank’s (ECB) policy announcements and high-tier data releases from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

Simple :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.69 | Buy Zone | Bullish

Stochastic Oscillator : 30.64 | Sell Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.11 R2 : 1.12
• S1 : 1.08 S2 : 1.07

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 1.0913 | Take Profit: 1.0816 | Stop Loss: 1.0978

GBP/USD​

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Daily FX Analysis – GBP/USD trends, EUR/USD pressure, USD/CAD at 1.3500, NZD/USD defense.​

Introduction​

GBP/USD remains in a consolidation phase below a month-old descending trend-line resistance, hovering just above the 1.2700 level. The pair, which saw a bullish surge earlier in the week, stabilized above 1.2700 despite a minor correction. Meanwhile, EUR/USD faces renewed bearish pressure, slipping below 1.0850, driven by USD strength amid risk aversion. The European Central Bank (ECB) maintained key rates, and USD/CAD is trading lower at 1.3472. NZD/USD is on the defensive above 0.6100, influenced by a stronger USD following robust US GDP data, with the Core PCE in focus for further market direction.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Below One-Month-Old Descending Trend-Line Resistance.​

The GBP/USD pair struggles to gain meaningful traction on Friday and oscillates in a narrow trading band, just above the 1.2700 mark. Spot prices, meanwhile, remain well within striking distance of a nearly two-week high touched on Wednesday. GBP/USD gathered bullish momentum and advanced to its highest level in nearly two weeks above 1.2770 on Wednesday. Although the pair staged a downward correction in the American session, it managed to post daily gains by stabilizing above 1.2700. The PMI data from the UK showed that the private sector’s economic activity continued to expand at an accelerating pace in early January.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 50.13 | Buy Zone | Bullish

Stochastic Oscillator : 57.85 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Neutral Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2650 | Take Profit: 1.2767 | Stop Loss: 1.2568

EUR/USD​

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Weekly FX Analysis – GBP/USD Swings, EUR/USD Challenges, AUD/USD Rebounds, USD/JPY Gains.​

Introduction​

GBP/USD retreated below 1.2750, reversing gains after soft US December core PCE inflation data. Despite the setback, the pair eyes marginal weekly gains. Meanwhile, EUR/USD stabilized near 1.0850 post-US inflation data, maintaining positive territory. AUD/USD recovered to 0.6600 on improved market sentiment ahead of US core PCE data, while USD/JPY aimed for the psychological resistance at 148.00, supported by Tokyo CPI slowing below the BoJ’s 2.0% target.

Markets In Focus Today – GBP/USD​

GBP/USD Retreats Below 1.2750, And Looks To Post Small Weekly Gains.​

GBP/USD lost its traction and retreated below 1.2730 after rising above 1.2750 on soft US December core PCE inflation data in the early American session on Friday. Every week, GBP/USD remains on track to post marginal gains. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Upbeat macroeconomic data releases from the US provided a boost to the US Dollar (USD) during the American session on Thursday.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.13 | Buy Zone | Bullish

Stochastic Oscillator : 59.44 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2622 | Take Profit: 1.2799 | Stop Loss: 1.2524

EUR/USD​

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Daily FX Analysis – GBP/USD Rise, EUR/USD Caution, AUD/USD Geopolitics, USD/JPY Bullish.​

Introduction​

GBP/USD reclaims 1.2700 amid a halted US Dollar recovery, driven by reduced expectations of an early BoE rate cut. Geopolitical tensions in the Middle East pose a potential cap on gains. Meanwhile, EUR/USD faces defensive trading near 1.0850, influenced by heightened US Dollar demand amid geopolitical concerns. AUD/USD consolidates near 0.6600 despite geopolitical risks, with attention on US jobs data. USD/JPY hovers around 147.70, with bullish momentum indicated, while technical analysis suggests potential improvement towards 148.00.

Markets In Focus Today – GBP/USD​

GBP/USD Retakes 1.2700 As US Dollar Stalls Recovery.​

GBP/USD is trading above 1.2700, finding fresh demand amid a stalled US Dollar recovery in early Europe on Monday. The pair cheers reduced bets for an early BoE rate cut ahead of Wednesday’s Fed decision. Middle East geopolitical tensions could cap the upside. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Instead, market participants could remain focused on risk perception.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 52.39 | Buy Zone | Bullish

Stochastic Oscillator : 56.61 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2686 | Take Profit: 1.2783 | Stop Loss: 1.2629

EUR/USD​

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Daily FX Analysis – GBP, EUR, USD, CAD, NZD dynamics.​

Introduction​

GBP/USD remains range-bound above 1.2700 in anticipation of crucial decisions from the Federal Reserve and the Bank of England. The pair struggles for bullish momentum as the cautious market sentiment keeps the US Dollar resilient. Meanwhile, EUR/USD faces resistance at 1.0830, grappling to recover losses amid upward pressure on the greenback. USD/CAD trades softer, influenced by higher oil prices due to geopolitical tensions. NZD/USD attracts buyers above 0.6130, supported by additional stimulus measures in China, though caution prevails ahead of the FOMC meeting.

Markets In Focus Today – GBP/USD​

GBP/USD Oscillates In The Trading Range Above 1.2700 Ahead Of The Fed, BoE Rate Decision.​

The GBP/USD pair remains confined in a narrow trading range above the 1.2700 mark during the early European trading hours on Tuesday. Investors prefer to wait on the sidelines ahead of key events from the Fed and the BoE. GBP/USD continues to move up and down in a narrow band at around 1.2700 early Monday after closing the previous week virtually unchanged. The near-term technical outlook fails to provide a directional clue but the Federal Reserve’s and the Bank of England’s (BoE) policy announcements later this week could help the pair break out of its range. The cautious market mood at the beginning of the week helps the US Dollar (USD) stay resilient against its rivals and makes it difficult for GBP/USD to gather bullish momentum.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.48 | Sell Zone | Bullish

Stochastic Oscillator : 55.56 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2699 | Take Profit: 1.2785 | Stop Loss: 1.2657

EUR/USD​

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