Forex Daily Forecast, Analysis and Prediction

As price action has reached its support zone, bearish momentum is depleting and the likelihood of a breakout has increased.

While the Eurozone continues to face fundamental economic struggles as well as yet another potential Brexit delay

New Zealand reported a slight bigger-than-expected increase in exports for the month of September, but it failed to lift the New Zealand Dollar as a minor risk-off session unfolded during the Asian trading session.

Bearish momentum started to rise as the AUD/SGD advanced into its short-term resistance zone which has rejected price action on three previous occasions.

USDCAD: Bearish but more support closer to 1.3000 level

USDCHF Analysis: Resistance at 0.9900 holding so far

GBPUSD: More bearish on Brexit uncertainty

EURUSD: Gently bearish on Brexit uncertainty

At the beginning of this week, the price of the EUR/USD has been holding its gains between the 1.1138 support and the 1.1180 resistance, waiting any developments.

The United Kingdom's departure from the European Union is still unknown, as attempts to pass the necessary legislation through parliament on Tuesday to approve Johnson's agreement with the European Union continue.

Gold prices dropped to the $1418 support in early trading on Tuesday before settling around $1487 at the time of writing.

Earlier in the week, the USD/JPY fell to the 108.29 support as pressure on the US dollar from expectations for a US rate cut next week by the US Federal Reserve continued to show weakness in recent economic performance.

NZDUSD: Medium-term topping out?

AUDUSD: Medium-term topping out?

USDJPY: Strong support area around 108.07