Forex Daily Forecast, Analysis and Prediction

The Australian dollar finds temporary support above 0.62 but remains under pressure due to US dollar strength and China's economic challenges.

The GBP/USD pair continues its downtrend, pressured by Fed hawkishness and rate divergence, as sellers target 1.2200 ahead of US NFP data.

EUR/USD falls for 5 weeks, hits lowest since Nov 2022, down nearly 10% from August peak.

Bitcoin stabilizes above crucial support, signaling potential upside toward $100,000, while bearish risks remain below the 50-day moving average.

The euro continues to weaken against the US dollar, driven by diverging economic fundamentals, with parity likely and rallies seen as shorting opportunities.

The British pound tests resistance at 200 yen, with bullish momentum supported by the 50-day EMA, eyeing a breakout toward 207 yen if the barrier is breached.

The US dollar gains strength against the Japanese yen, fueled by rising US yields and BOJ policy limits, with potential to break above 158.50 and beyond.

Natural gas consolidates in a bullish pattern, driven by cold U.S. weather and European LNG demand, with a potential breakout above $4 toward $4.50 or higher.

The US dollar continues its upward trend against the Canadian dollar, supported by US economic optimism and Canadian political uncertainty, as the pair eyes the 1.45 level.

The US dollar is the clear winner in the FX market, not only against the Swiss franc, but against a ton of other currencies, which of course makes quite a bit of sense.

During the trading session on Tuesday, we broke down pretty significantly in the USD/MYR pair, which is a bit of an outlier when it comes to the Forex world at the moment.

During my daily analysis of crypto, Ethereum has captured my attention as it has lost over 6%, mainly due to the idea of yields raising higher in the United States.

My daily analysis of crypto obviously starts with Bitcoin, which was absolutely crushed during the trading session on Tuesday.

During my daily analysis of the major currency pairs, the Australian dollar captures my attention due to the fact that we have formed yet another nasty looking candlestick at the end of the day.

During yesterday's trading session, the EUR/USD pair attempted to rebound upwards, but its gains did not exceed the 1.0435 level before settling back down around 1.0335 at the time of writing this analysis.