Forex Daily Forecast, Analysis and Prediction

During my daily analysis of exotic currency pairs, the USD/INR pair has caught my attention, as we continue to threaten a major resistance barrier.

The GBP/USD exchange rate has been in a steep sell-off since September 30th, falling from a high of 1.3428 to 1.2600, its lowest level since July 2. This sell-off accelerated as the US dollar index (DXY) surged from the year-to-date low of 100 to $107.

The Australian dollar continued its strong sell-off, hitting its lowest level since August 5 as the greenback’s resurgence accelerated. The AUD/USD exchange rate tumbled to 0.6450, much lower than the year-to-date high of 0.6942.

The EUR/USD exchange rate tumbled to a low of 1.0495, its lowest level since October 6, 2023, as the risk-off sentiment continued following Donald Trump’s victory. It traded at 1.0540 on Monday morning, ahead of key economic data.

After a few days of consolidation, Bitcoin’s price action has turned bullish and seems to be threatening a new bullish breakout beyond the record high above $93,000.

The EUR/USD like many major currencies has found its value getting hammered lower as USD centric strength has galvanized global Forex amidst risk adverse trading and shifting behavioral sentiment.

Forex markets are seeing a strong US Dollar, which has climbed to a fresh yearly high, weakening European currencies such as the British Pound and the Euro, while Bitcoin climbs and stocks tumble.

WTI Crude Oil slipped to a mid-term term low as the weekend approached, this after the commodity saw incremental selling grow in power throughout the week in response to the election of Trump.

Global markets see volatility with GBP/USD nearing 1.25 support, USD strong across pairs, S&P 500 testing 5700, gold at $2500, and crude oil holding near $65.

Gold forms a hammer after early losses Thursday, signaling potential recovery towards the 50-day EMA. Key support: $2,500; resistance remains strong.

The Aussie dollar rallied a bit during the course of the trading session on Thursday as we continue to see a lot of back and forth.

The ASX200 has rallied pretty significantly during the trading session on Thursday as it looks like the 8200 Australian dollars level will continue to be important and recognized as potential support.

The US dollar initially rallied a bit during the course of the trading session on Thursday as we reached the 156 level and peaked above there but have since pulled back ever so slightly.

The US dollar has rallied a bit during the course of the trading session on Thursday against the Swiss Franc, although we are seeing a little bit of give back later in the day.

During my daily analysis of minor currency pairs, the EUR/CAD pair has captured my attention as we have tested a major support level, only to turn things around and show signs of life.