Forex Daily Forecast, Analysis and Prediction

The EUR/USD price continued surging as investors embraced a risk-off sentiment following the weak US inflation data.

The BTC/USD price remained under pressure during the weekend as cryptocurrency outflows continued.

The AUD/USD price continued its recovery as the US dollar strength fizzled.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of November 6th, 2022 here.

The EUR/USD climbed above parity last week and sustained upwards momentum, this as the weekend came into sight while the Forex pair continued to challenge resistance.

The GBP/USD continued to march upwards last week as the currency pair has not only fought off lows, but has begun to come within sight of ‘accepted’ price equilibrium.

The S&P 500 has taken off to the upside after the CPI number in the United States came out lower than anticipated.

Overnight local Indian time, the Americans reported that CPI numbers came out at 0.4% month over month, instead of the 0.6% expected.

The NASDAQ 100 shot straight up in the air during the trading session on Thursday as the CPI numbers in the United States came out lighter than anticipated.

The DAX rallied rather significantly during the trading session on Thursday as we continue to the upside after CPI numbers in the United States came down.

The BTC/USD has rallied a bit during the trading session on Thursday, reaching the crucial $18,000 level.

The West Texas Intermediate Crude Oil market initially drifted a bit lower during the trading session on Thursday but has turned around to show signs of life as the US dollar has been smashed.

The USD/JPY has fallen rather hard during trading on Thursday to reach down to the ¥142 level after the CPI figures coming out of the United States were 0.4% month over a month instead of the 0.6% expected.