Forex Daily Forecast, Analysis and Prediction

The GBP/USD price pulled back slightly ahead of the upcoming UK GDP and US consumer inflation data.

The EUR/USD price crashed to parity level as investors continued worrying about the European economy.

The AUD/USD pair dropped to the lowest level since June 2020 as the US dollar strength continued.

The USD/INR touched new highs in early trading today as the currency pair continues to show signs of its bullish trend remaining strong.

New long-term highs were made in the USD/JPY currency pair yesterday, as financial institutions absorbed another round of information from the U.S Federal Reserve.

With the beginning of this week’s trading, the gold price completed the broader downward path, as the US dollar continues its record gains.

The demand for the US dollar was strong at the beginning of this week's trading, amid a decline in global stock markets linked to renewed fears of more Chinese economic problems as a new outbreak of Covid-19 was reported in Shanghai.

The GBP/USD currency pair tried to maintain the resistance level of 1.20 but faced a battle to hold on to it in the coming days as it will be at risk of sliding towards the stronger support 1.18 and may face difficulties in extending any further advance far above the 1.21 level.

The EUR/USD dropped significantly last week before entering a circle of parity but rose smartly in time to close out the week and can now defy gravity by trading solidly above a temporary low around the 1.0020 level in the coming days.

The Dow Jones Industrial Average Index continued the corrective rise during its recent trading at the intraday levels, very slightly.

Last week’s trading on natural gas prices ended lower until last Friday, as the spot natural gas prices fell until the end of Friday to 6.040, after a corrective rise at the end of last Thursday.

More strong falls in value likely as EUR remains weakest currency.

The British pound broke down Monday to slice through the 1.19 level.

The West Texas Intermediate Crude Oil market plunged initially on Monday to reach down to the $100 region.

The US dollar broke higher to test the 1.3050 level on Monday but then turned around to show signs of exhaustion.