Forex Daily Forecast, Analysis and Prediction

The AUD/USD price pulled back after the relatively weak Australian retail sales numbers and as China experienced Covid-zero protests.

The Australian dollar pulled back a bit during the trading week on Monday, showing signs of hesitation.

My previous GBP/USD signal last Tuesday was not triggered, as there was no bearish price action when the resistance level I had identified at $1.1868 was first reached that day.

The GBP/USD currency pair has had a bit of a quiet session during the day on Monday, as we continue to see a lot of hesitation around the 50-Day EMA.

The EUR/USD currency pair initially tried to rally against the US dollar on Monday but found the 1.05 level to be a bit too much to get beyond.

Gold Markets have pulled back significantly from the 200-Day EMA, which is near the $1760 level.

The US dollar has fallen a bit during the trading session on Monday but found enough support underneath the uptrend line to show signs of life and bounce a bit.

The TRY/USD stabilized during the early trading this morning, after the decision of the Turkish Central Bank at the end of trading last week, where the Monetary Policy Committee of the Bank reduced the interest rate by 150 basis points.

The USD/JPY currency pair had a new bearish trading week in terms of performance, as it moved towards the 138.05 support level, which is an important support area in the path of the currency pair.

Despite the decline in the price of the US dollar during the past week, the gains of the bullish retracement of the gold price (XAU/USD) did not exceed the level of 1761 dollars per ounce.

Amid the US dollar's decline against the other major currencies, the share of the GBP/USD was the strongest, as it recently jumped to the 1.2153 resistance level, its highest in three months.

Despite the short trading last week amid the extended US holiday, the EUR/USD currency pair remained to rebound upwards.

The Dow Jones Industrial Average rose during its recent trading at the intraday levels, to achieve gains for the third consecutive day, by 0.45%.

Spot natural gas prices (CFDS ON NATURAL GAS) declined in early trading on Monday, to record new daily losses until the moment of writing this report, by -0.83%.

The NZD/USD currency pair has pulled back just a bit during the trading session on Friday, as we continue to hang around the 200-Day EMA.