Forex Daily Forecast, Analysis and Prediction

Bitcoin price held steady above the important support level at $120,000, down from the year-to-date high of 126,260. BTC/USD remains about 13% above the lowest point in October this year.

The GBP/USD exchange rate remained in a tight range on Thursday morning as traders continued to focus on the ongoing US government shutdown. It pulled back to a low of 1.3400, down from the September high of 1.3725.

The EUR/USD exchange rate dropped below a key support level as traders watched the progress on the French political crisis and the latest Federal Reserve minutes. It wa trading at 1.1630, down from the year-to-date high of 1.1920.

The Australian Dollar has been falling in the past hour after forming and rejecting the upper trend line of a multi-day bearish price channel.

A dismal return on assets, negative cash flow from operations, and a multi-year contraction in operating margins do not support the current share price. Will a breakdown in the price of Goldman Sachs stock follow?

As we predicted, the gold price index is testing the historic psychological resistance of $4000 per ounce. According to gold trading platforms, spot gold prices rose today, Wednesday, October 8, 2025, to the resistance level of $4040 per ounce, the highest in the history of gold prices. Recently, factors contributing to gains in the gold trading market have increased. The most prominent of these currently are the continued US government shutdown, political turmoil in France, economic concerns in Japan and Argentina, the ongoing war between Russia and Ukraine, and further purchases of gold bullion by central banks. These factors are sufficient for gold bulls to advance further, ignoring, as I have mentioned before, that all technical indicators have reached extreme overbought levels.

Amid strong selling pressure, euro trading has witnessed a sharp decline amid political unrest in Europe and Asia. According to reliable trading platforms, the EUR/USD exchange rate has fallen towards the 1.1600 support level, the lowest level for the currency pair in more than a month. Currently, foreign exchange market analysts warn that French government instability and Japanese turmoil stemming from the yen could increase fourth-quarter volatility in currency markets.

The US dollar initially did try to rally a bit during the trading session here on Tuesday but then gave back gains to show signs of exhaustion. I think ultimately this is a pair that continues to go lower as we will go looking for more substantial support, but I think there's enough support to keep this market afloat. The 1.39 level is support, and a bounce from there makes sense as I think we are going to continue to just trade between 1.39 on the bottom and 1.40 on the top. If we can take out the 1.40 level to the upside, I think at that point in time the US dollar goes looking to the 1.4240 level. The 200-day EMA sits at the 1.3869 level and rallying. The 50 day EMA rallying from here could kick off a uh golden cross, which of course is a longer term buy signal. Quite frankly, the Canadians have shed jobs while the United States is still adding them, at least we think. And of course, the Canadian economy is suffering at the hands of a lot of concerns, not the least of which is a trade war with the Americans.

The gold market has shown itself to be rather noisy, but bullish during the trading session here on Tuesday. We pierced the crucial $4,000 level, an area that I think, of course, a lot of people will be watching very closely as there's a lot of headlines around it. The question is, can we continue to go to the upside?

The euro has plunged a bit during the early hours here on Tuesday as the US dollar continues to strengthen. Quite frankly, the US dollar just won't roll over and die like everybody said it was going to do. And now we find ourselves at the uptrend line. The uptrend line, of course, has been in effect since the middle of April, so it matter at this point, and we are below the 50-day EMA. Now keep in mind that during the Monday session, we made this exact same move only to bounce and form a hammer. If we break down below this uptrend line, then I think we've got a shot at running to the 1.16 level. The 1.16 level being broken to the downside opens up quite a bit of selling pressure, perhaps down to the 1.14 area where I would anticipate seeing the 200 day EMA come in and offer some noise. All things being equal.

The British pound fell significantly during the early hours here on Tuesday, but it looks like the 1.34 level is going to continue to offer a bit of support and as a result I think we've got a situation where we just go sideways Ultimately, this is a market that given enough time probably has to make a bigger decision But we are basically at fair value currently because we have been between 1.32 and 1.36 and 1.34 of course is right in the middle.

The Bitcoin market was rather ugly during the trading session on Tuesday as the $125,000 level has offered massive resistance. Ultimately, this is a market that I think, given enough time, we probably find buyers looking for some type of value. And it's possible that we could go looking to the $120,000 level. The $120,000 level is a large, round, psychologically significant figure that probably has a bit of market memory. If we break down below there, then the $117,500 level could come into the picture to offer support as well.

The US dollar rose against the Mexican peso during trading on Tuesday, but what could be thought of as somewhat quiet and sideways trading. This does make a certain amount of sense, as there are a lot of questions about the US economy, and of course we have the US government shut down. Remember, Mexico is highly levered to the United States, as it is the world’s largest exporter to the world’s largest economy. While most people think about China in that prism, the reality is that Mexico is a much bigger exporter, at least as far as the Americans are concerned.

On Tuesday, the stock market has been very noisy and of course this has had a significant influence on Nvidia. Nvidia of course is one of the most widely traded stocks, so it does make a certain amount of sense that people would be looking at this market as one that they may try to play any type of momentum in the overall indices.

The euro rose again during the trading session on Tuesday against the Japanese yen, as traders continue to price in the idea of a potentially loose monetary policy coming out of Japan. At this point, traders are blaming it on the election, but I have no idea why they thought Japan was ever going to have any other type of monetary policy. Japan has been loose for over 20 years now, and quite frankly has a demographics bomb ready to go off that will make it so that they cannot finance their debt with any type of interest at all. Japan is by far the most heavily indebted industrial country in the top tier of economies, and therefore in order to continue to have the economy function, low interest rates are a necessity, not a “wish.”