Forex Daily Forecast, Analysis and Prediction

The return of the weakness of the US dollar contributed to a positive start for the gold price in this week's trading, reaching the psychological resistance level of $1900 again.

The US dollar's temporary recovery pushed the GBP/USD pair to the support level of 1.4083, but the pair rebounded upwards as we expected and moved towards the resistance level 1.4191 before settling around the 1.4178 level at the time of writing.

For the second day in a row, the EUR/USD pair is trying to compensate for the losses of its recent bearish correction amid the improvement in US economic data.

For three trading sessions in a row, selloffs in the USD/JPY pair pushed it towards the 109.18 support level before settling around the 109.25 level at the beginning Tuesday's trading.

The USD/MXN is traversing within a fairly consolidated range early today; this has taken place after the Forex pair re-confirmed its bearish momentum late last week.

A slight reversal higher in early trading today underscores some of the choppy conditions via the USD/ZAR which may produce opportunities for traders.

After making short-term highs on the 2nd of June, the USD/INR has seen renewed vigor via bearish sentiment and the Forex pair is now challenging key support.

DOGE/USD has seen bearish pressure regenerate the past twelve hours and the cryptocurrency is testing important one-week support levels.

The euro rallied significantly during the trading session on Monday to reach towards the 1.22 handle.

This is a market that has been consolidating for a while, perhaps trying to work off a bit of froth.

At this point, it looks very likely that the DAX will continue to find buyers on dips, just as it had on multiple times previously.

The NASDAQ 100 pulled back a bit during the trading session on Monday but then turned around to show signs of strength again.

The S&P 500 fluctuated during the session on Monday in very choppy and sideways trading, which is what we have seen for the last several weeks.

We did find a significant amount of exhaustion at the $70 level to turn things right back around and form a somewhat exhaustive candle.

The US dollar initially tried to rally during the trading session on Monday but gave back the gains to show signs of exhaustion yet again.