Forex Daily Forecast, Analysis and Prediction

The GBP/USD exchange rate has reversed more than half of its decline this year, but it will now face the risk of a corrective setback that could push it toward 1.20, or perhaps back below it in the coming days.

The US dollar recovered before announcing a package of economic data and important events that contributed to selling the XAU/USD (gold) price towards the support level of $1740 an ounce.

The EUR/USD exchange rate benefited greatly from the rise in risk assets in the last quarter, but its recovery was recently halted by technical resistance around 1.04 on the charts.

The S&P 500 Index fell during the trading session on Monday, as it looks like the 200-Day EMA could come into the picture and will possibly offer resistance.

The DAX has fallen over 1% during the trading session on Monday, as we are pulling back from a rather significant resistance barrier in the form of €14,500.

The Hong Kong Hang Seng Index initially fell on Monday, as for protests in China over the lockdowns coming back.

The USD/JPY has been able to sustain its lower mid-term price range after more bearish momentum produced strong selling last week.

Bitcoin has fallen again during the session on Monday, after going sideways for the last couple of days.

The USD/MXN moved lower again on Monday and has managed to sustain its long-term depths in early trading this morning.

The Crude Oil market had broken through a major support level, but then turned around later in the day to form a bit of a hammer.

The EUR/USD price pulled back ahead of the upcoming American and European consumer confidence data.

The BTC/USD price moved sideways as the fallout on FTX and Alameda Research continued.

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.