Forex Daily Forecast, Analysis and Prediction

The US dollar saw a little bit of trouble against the Canadian dollar during trading on Friday, as there is a lot of noise just above the crucial 1.38 level.

The US dollar plunged against the Norwegian krone during the trading session on Friday to reach down to the 10.83 level before turning around and ripping to the upside and hanging about the 11 level.

Bitcoin had an explosive move to the upside during the trading session on Friday.

Bitcoin has risen firmly to trade at a new 6-week high, with the all-time high just below $74,000 coming into view.

The GBP/USD pair will be in the spotlight this week as the Federal Reserve and the Bank of England (BoE) deliver their interest rate decisions.

The EUR/USD exchange rate has crawled back in the past two trading days as the path of a Federal Reserve interest rate cut became clearer.

The Australian dollar has been in a steep freefall in the past few days as concerns about the Australian and Chinese economies continued.

It's worth noting that the Swiss Franc has given up some of its gains.

I see that we are approaching the crucial $2,400 level.

I noticed that we are hanging about and perhaps trying to stabilize.

The first thing I notice is that we are breaking above the 50-day EMA.

The first thing that I notice is that we are stabilizing.

Last week saw a very strongly bullish move in the Japanese Yen, while major stock market indices saw strong selloffs linked to profit-taking against a backdrop of

Get the weekly Forex forecast for major currency pairs for the week of July 29- August 03, 2024 here.

In my daily NZD/JPY analysis, it’s hard not to notice that this has been like a “falling knife” as of late, and therefore sooner or later we needed to see some type of bounce.