Forex Daily Forecast, Analysis and Prediction

The British pound has fallen rather hard during the early hours on Thursday against the Japanese yen as we continue to see a lot of volatility.

This is a market that a lot of you won't be paying attention to, but it is forming an interesting technical pattern that I think is worth talking about.

The euro has tried to rally a bit during the trading session on Thursday, but it still has a little bit of a headwind above it.

It's been the same story across the forex world today as the Swiss franc has strengthened quite drastically. But I look at this as a buying opportunity.

The Swiss franc has found itself strengthening against most things and the Canadian dollar won't be any different.

USD/INR: Tight Range Faltered but Technical Levels Dominate

EUR/USD: Sustained Bullish Move Maybe More Robust This Time

USD/ZAR: After a Solid Move Lower Impetus and Wagers Coming

The USD/TRY pair has maintained stability throughout this month's trading.

Since the beginning of today's trading session (Thursday), the USD/JPY exchange rate has been subjected to selling pressure.

GBP/USD is under profit-taking pressure for the second day in a row, retreating from its two-month high of $1.28 touched on May 27.

Before announcing important American economic data, EUR/USD has dipped to near the 1.08 support level again.

Gold has been under selling pressure for the past two days, falling near $2323 an ounce today, Thursday, continuing its decline amid rising US Treasury yields and demand for the US dollar driven by hawkish comments from Fed officials.

High impact US Preliminary GDP data is due today, and this is likely to determine the course of the US Dollar over the next 24 hours and possible longer.

The US dollar has been very noisy against the Mexican peso during the month of May.