Forex Daily Forecast, Analysis and Prediction

The EUR/USD retreated on Tuesday and resumed the recent downward trend as the US dollar strength resumed.

Gold markets exhibited a noticeable upswing during Tuesday's trading session, building on the momentum.

At the beginning of this week's trading, the price of the EUR/USD currency pair tried to rebound to the upside and stop its recent losses.

For six consecutive trading sessions, the price of the GBP/USD currency pair is trying to rebound to the upside.

The USD/JPY currency pair is still bullish and the strongest.

At the beginning of trading this week Gold futures rose slightly, supported by a weaker US dollar.

The USD/TRY stabilized near its highest levels ever, while the shares of Turkish banks recorded strong declines during the trading at the beginning of the week.

During Monday's trading session, the USD/JPY displayed a noteworthy rally, surpassing the ¥145 level once again.

Amidst Monday's trading session, the GBP/USD showcased a measured upward swing, which was subsequently accompanied by a slight retracement of its steps.

In the gold markets, the recent trading session on Monday showed a measured uptick in value, marked by a recovery from the 200-Day Exponential Moving Average.

The West Texas Intermediate (WTI) Crude Oil market displayed a modest upward move during Monday's trading session, surpassing the $85 level.

During Monday's trading session, the GBP/JPY exhibited a substantial rally, effectively leaving the ¥185 level behind.

After failing to touch highs around the 1.35750 ratio that were traversed on Friday, yesterday’s trading having produced a high of nearly 1.35730 began to reverse lower.

The USD/SGD has turned lower in recent trading, this after last week’s climb to a high not seen since December 2022 around the 1.36255 level.

During Monday's trading session, the S&P 500 displayed a modest rally, managing to surpass the upper level of the hammer pattern observed during the Friday session.