Forex Daily Forecast, Analysis and Prediction

The DAX broke down again on Friday as we continue to see a lot of negativity in equities overall.

The S&P 500 fell rather hard on Friday as inflation numbers came out much stronger than anticipated, destroying the narrative that Wall Street was trying to put together.

The NASDAQ 100 fell hard again Friday as inflation numbers in the United States came and went.

The gold market had initially fallen on Friday and then fell even quicker once the inflation numbers came out much hotter than anticipated.

The euro fell on Friday as the US dollar continues to act as a wrecking ball against almost everything.

The Canadian dollar pulled back a bit on Friday, reaching down to the ¥105 level.

The West Texas Intermediate Crude Oil market pulled back a bit Friday, perhaps in reaction to being a little overstretched, or perhaps due to inflation numbers.

Bitcoin fell a bit Friday as we continue to see the US dollar strengthen overall.

The British pound got hammered Friday as the interest rate announcement in the United States was much stronger than anticipated, sending the GBP/USD pair below the 1.24 handle and leaning toward the 1.23 level.

The price is more bullish above 0.7063.

The GBP/USD pair declined sharply as odds of a more aggressive Federal Reserve continued.

The BTC/USD price crashed to the year-to-date low as investors remained concerned about the rising inflation, interest rates, and recession chances.

The EUR/USD pair dropped sharply as investors reacted to the hawkish interest rate decision by the European Central Bank (ECB) and the strong US inflation data.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of June 13, 2022.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of June 13, 2022 here.