Forex Daily Forecast, Analysis and Prediction

The USD/TRY stabilized, trading near its highest levels ever.

The price of the USD/JPY currency pair increased from its sharp gains, reaching the resistance level of 145.86.

The gold price is still in a strong decline, in the face of the strength of the US dollar, with investor sentiment shifting away from the yellow metal in light of hopes to avoid an economic recession.

During yesterday's trading, the British pound shyly rose against many other major currencies, after data from the Office for National Statistics (ONS) indicated the continuation of record growth in British wage packages.

The bears' control of the direction of the EUR/USD currency pair intensified, and the losses this week reached the support level at 1.0875, the lowest for the currency pair in five weeks, and settled around 1.0903 at the time of writing.

The road ahead for silver price seems to be paved with hurdles, making for a rather uneven journey in terms of its valuation.

The current sentiment enveloping natural gas is one of calculated opportunity-seeking, capitalizing on price declines.

The Reserve Bank of New Zealand this morning kept its Official Cash Rate in place as expected, and the NZD/USD touched a lower value this morning not seen since the middle of November 2022.

The USD/BRL continues to trace towards higher values and has sustained its bullish trajectory as global market conditions remain nervous.

During Tuesday's trading session, the gold market witnessed a minor decline, yet the presence of underlying support remains resilient.

The 1.09 level remains a point of keen interest for numerous traders.

The early activity in the S&P 500 on Tuesday seemed to echo the tone of the preceding sessions – a distinct lack of substantial movement.

The USD/JPY exhibited a back-and-forth movement during the trading session, reflecting a sense of hesitation in the market.

The West Texas Intermediate Crude Oil market experienced a rather notable decline during Tuesday's trading session, with indications pointing towards a potential descent towards the $80 level.

Tuesday's trading session breathed new life into the GBP/JPY, instilling a sense of optimism within the market as indications of an imminent breakout gained prominence.