Forex Daily Forecast, Analysis and Prediction

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of September 24th, 2023 here.

A more hawkish than expected forecast by the US Federal Reserve concerning interest rates has sent the US Dollar higher, stocks lower, and most risky assets have either sold off or failed to rally significantly. However, a few commodities are still enjoying bull markets.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The S&P 500 experienced an early plunge during Thursday's trading session, reflecting the prevailing concerns surrounding global growth prospects.

Silver markets initiated Thursday's trading session with a significant downward gap, signaling a prevailing negative sentiment.

Natural gas markets have recently displayed a subtle retreat, characterized by a persistent pattern revolving around the 50-day Exponential Moving Average.

The EUR/USD experienced an initial sharp decline during Thursday's trading session, reflecting the persistent market noise and uncertainty.

The GBP/USD experienced a substantial decline during Thursday's trading session, driven by the Bank of England's unexpected decision to maintain its existing monetary policy stance.

During Thursday's trading session, the USD/JPY exhibited noticeable volatility.

Gold markets commenced Thursday's futures trading session with a significant downward gap, reflecting extremely bearish sentiment.

Crude oil markets experienced an initial dip during Thursday's trading session, only to rebound, signaling a resilience that underscores the ongoing upward pressure.

In Thursday's trading session, the British pound faced a significant downturn against the Japanese yen, with the Bank of Japan's impending interest rate decision casting a shadow over the currency pair.

The AUD/USD has been under significant pressure in recent trading sessions, hitting a low of 0.64 against the US dollar.

In the pre-market futures session on Wednesday, the S&P 500 displayed a modest rally.

Silver encountered a minor pullback during Wednesday's trading session but subsequently exhibited signs of revival.