Forex Daily Forecast, Analysis and Prediction

The price of WTI Crude Oil futures went into this weekend near the 62.100 ratio, having produced results which remain near important short, near and mid-term lows.

This week’s forecast covers Bitcoin, NASDAQ, gold, silver, and key currency pairs as markets show signs of exhaustion and await September flows.

The NASDAQ 100 whipsawed on Thursday as hotter US PPI data fueled doubts over Fed rate cuts, creating turbulence near the 24,000 mark and prompting buy-on-dip strategies.

WTI crude rallied Thursday but faces strong resistance at $65 amid record US, Russian, and OPEC output. Short setup eyed on signs of exhaustion.

Gold reversed early gains on Thursday after hotter US inflation data strengthened the dollar and yields, bringing prices closer to key technical support levels.

Silver prices fell back from key resistance at $39 after strong US inflation data reduced expectations for aggressive Fed rate cuts, keeping the market range-bound.

Bitcoin retreats from record levels as stronger US inflation data tempers Fed rate cut expectations, highlighting its growing correlation with Wall Street sentiment.

Natural gas prices ticked higher Thursday on oversold conditions, yet resistance near $3 and weak seasonal demand keep the market tilted toward further declines.

EUR/USD slides after strong US PPI data fuels doubts over rapid Fed rate cuts, with a break below the 50-day EMA potentially opening the path toward 1.14.

USD/JPY remains supported by a wide interest rate differential and hot US PPI data, with a breakout above 148 potentially paving the way toward 151.

GBP/CHF is testing resistance near 1.0950 after a sharp rally, with a short-term pullback likely before bulls target 1.10 and the 200-day EMA.

The Australian dollar is under pressure after a failed rally at 0.6550, with strong US PPI data raising the risk of renewed US dollar strength and potential downside toward 0.64.

XAU/USD remains in a bullish trend above $3,335, supported by Fed rate cut expectations and dollar weakness, with buyers targeting a break toward $3,400.

EUR/USD is consolidating near 1.1700 as rate-cut expectations for the Federal Reserve boost bullish momentum, though key resistance at 1.1800 remains a critical breakout point.

BNB price is consolidating just below yearly highs, with institutional accumulation reinforcing $850 support and resistance at $865 defining the next breakout target.