Forex Daily Forecast, Analysis and Prediction

Since the announcement of U.S. inflation figures falling below all expectations, the USD/JPY exchange rate has been experiencing strong selling pressure.

Gold prices are holding near record levels with growing optimism about interest rate cuts from the U.S. Federal Reserve.

The USD/ZAR exchange rate is near the 18.08225 ratio as of this writing, this after a reversal higher upon opening following the weekend.

It's easy to see that there is plenty of strength in this asset as we have turned around and completely during the session.

It's been quite interesting to see that this market has shot straight up in the air.

I have noticed that the $2,400 level continues to see a lot of interest paid attention to it.

It's easy to see that the buyers have taken over again, as we are well above the €18,650 level.

As former President Trump appears likely to extend his lead in opinion polls, crypto buyers see the prospect of looser regulation and are bullish accordingly. However, the area of resistance beginning at $63,153 looks strong.

It's easy to see that the Aussie dollar has been very strong.

The GBP/USD pair continued its strong rally this week after the strong UK GDP data and the weak US inflation numbers.

The EUR/USD pair rose to an important resistance level as focus now shifts to this week’s European Central Bank (ECB) decision.

The natural gas markets look pretty good, but I would be a bit cautious about the overall directionality and trend of the market.

The AUD/USD pair rose to 0.6800, its highest level since January.

I continue to see that the GBP/CHF pair is likely to continue to see buyers coming into the market.

It’s obvious that the CAD/JPY pair are approaching a major support level.