Forex Daily Forecast, Analysis and Prediction

The US dollar initially fell during the trading session on Tuesday but turned around to show signs of strength against the Mexican peso.

The US dollar has bounced a bit over the last couple of days against the Indian rupee.

The British pound initially pulled back during trading on Tuesday but has found its footing a bit against the Swiss Franc.

The British pound has rallied significantly during the trading session on Tuesday.

The S&P 500 did very little in the early hours on Tuesday, but quite frankly we are just in the midst of consolidation after a huge move higher.

The German DAX has initially tried to rally during the trading session on Tuesday but gave back gains rather quickly.

The Australian Dollar has a bullish long-term trend, being up over both 3 months and 6 months.

The Hong Kong 50 index initially rallied during the early hours on Tuesday but has given back the gains at the 19,000 Hong Kong dollars level.

The Norwegian krone has been strengthening for some time. It looks like we are digging into an area that has been somewhat supported.

The GBP/USD pair has been in a strong uptrend in the past few weeks.

The EUR/USD pair pulled back ahead of the upcoming German Consumer Price Index (CPI) data and the Federal Reserve’s Beige Book.

The AUD/USD exchange rate pulled back after the strong US consumer confidence report triggered a risk-off sentiment.

Support confluence around $67,500.

GBP/USD is expected to extend its journey towards the top end of its 2024 range in the coming days, but a strong US PCE inflation reading at the end of the week could turn the tide.

The EUR/USD rate rose to 1.0867 in the last week of May, approaching two-month highs seen earlier in the month as traders adjusted their bets on a rate cut.