Forex Daily Forecast, Analysis and Prediction

After breaking down to a 2-month low price below $55k, Bitcoin has recovered with a weak bullishness, supported by the risk-on rally of recent days. The price is now rejecting the resistance level at $59,366.

The GBP/USD exchange rate retreated slightly on Tuesday.

The EUR/USD exchange rate held steady overnight as traders focused on Jerome Powell’s statement and the upcoming US inflation data.

In my daily GBP/JPY analysis, the British pound has shown itself to be very strong yet again against the Japanese yen as we continue to see upward trajectory, mainly based on the interest rate differential.

The AUD/USD exchange rate held steady after the Fed’s Jerome Powell signaled that the central bank was preparing for interest rate cuts if inflation continues retreating.

In my daily US dollar versus Canadian dollar analysis, it's obvious that we have a lot of support underneath near the 1.36 level.

In my daily British pound, US dollar analysis, it's hard not to notice that we are banging up against the 1.28 level.

In my daily Euro/US dollar analysis, it's hard not to notice that we are essentially sitting still.

In my daily gold analysis, I cannot help but notice that we are struggling a bit to go higher.

It’s hard not to notice that the S&P 500 continue to be very bullish.

The DAX have been absolutely crushed.

It’s hard not to notice that the same area has been offering support over the last several days.

It’s hard not to notice that the Australian dollar has been struggling over the last couple of days.

It remains obvious to me that the euro is doing everything it can to recover against the British pound

The British pound has now reached high levels against the US dollar and will need to see a weak US inflation print on Thursday if it is to make further progress.