Forex Daily Forecast, Analysis and Prediction

For three consecutive trading sessions, spot gold prices have been incurring losses due to new selling transactions, initiated from the $4245 per ounce resistance level last Thursday. Losses extended to the $4006 per ounce support level, and according to gold trading company platforms, the gold index is stable around the $4022 per ounce level at the time of writing this analysis. Commodity market experts believe that both the gold and stock markets are under pressure as investors assess the probability of a US interest rate cut in December.

Following the recent upward rebound gains, the Euro price appears ready to continue its recent gains against the US Dollar this week. Based on performance across trusted trading company platforms, the EUR/USD exchange rate is recovering from the selling wave seen in October, and is likely to breach the 1.1650 level in the coming days as confidence increases.

Shrinking profit margins, a dismal return on invested capital, and slowing revenues hint at more issues ahead. Did earnings manifest a bearish case?

Industry-leading operational metrics, excellent profit margins, and a stable outlook form a solid platform for a price action reversal. Should you fasten your portfolio?

In early futures trading this morning the S&P 500 is around the 6,655.00 ratio having shown a definite negative near-term trend since coming off of highs last Wednesday.

The Nasdaq 100 continues to face nervous selling in early futures trading this morning and is near the 24,645.00 ratio after another flurry downwards.

USD/CHF continued to rebound from 0.79 on Monday, with the broader consolidation range intact and dollar strength favored amid rising global liquidity concerns.

Bitcoin continued to slide on Monday, with a death cross, weak price action, and institutional selling pushing the market toward key support at $92,500.

GBP/JPY bounced back strongly on Monday, with bullish momentum building toward ¥205 as Japan's financial pressures keep pullbacks limited to support zones like ¥202 and ¥200.

EUR/USD continued to drift lower on Monday as sellers rejected the 50-day EMA, with downside targets near 1.14 and 1.11 amid renewed dollar strength and Eurozone fragility.

GBP/USD continues to stall near 1.32, with bearish momentum building as traders eye 1.30 and 1.2750 if downside pressure accelerates.

USD/JPY surged above the critical 155 level on Monday, reinforcing its bullish trend as interest rate differentials continue to drive demand for the dollar.

The Nasdaq 100 reversed early gains on Monday, testing a key trendline near 25,000, with a break of Friday’s low potentially opening the door to a deeper correction.