Forex Daily Forecast, Analysis and Prediction

For three trading sessions in a row, upward momentum pushed gold towards the $1875 resistance level, confirming a bullish outlook.

The GBP/USD pair has been making steady, upward movements despite the US dollar’s ​​attempts to recoup its recent losses.

The USD/JPY currency pair is trying to correct higher, but attempts to rebound to the upside are still weak.

For four trading sessions in a row, the EUR/USD pair has been in an upward correctional range, which pushed it to the resistance level of 1.2190 before stabilizing around 1.2170.

The DAX Index, like its major counterparts globally, continues to trade within the upper echelons of its value, but experienced a rather cautious trend line as investors appear to wait for the next dose of major impetus.

ETH/USD touched new record highs late last night as the cryptocurrency approached the 1475.00 mark before seeing a slight reversal lower unfold.

The USD/BRL has found it nearly impossible to achieve a sustained bearish trend.

The USD/INR is shadowing important support levels which have proven rather strong in early September and the second week of October.

Support around $30k continues to hold.

The FTSE 100 initially fell during the trading session on Friday but found enough support at a confluence of interest that the market turned around to form a hammer.

The West Texas Intermediate Crude Oil market fell during the trading session on Friday, breaking down below the $52 level.

The US dollar rallied a bit during the trading session on Friday amid concerns regarding demand for crude oil and a stretched US dollar.

The British pound broke down a bit during the trading session on Friday to reach down towards the 1.3650 level.

The euro initially tried to rally during the trading session on Friday but found enough resistance near the 1.22 level to turn around and form a shooting star.

The gold markets fell during the trading session on Friday, reaching down towards the $1836 level.