Forex Daily Forecast, Analysis and Prediction

In the world of financial trading, two significant players are grabbing the spotlight as they strive to break through formidable resistance barriers.

The GBP/USD pair moved sideways as a risk-off sentiment spread in the financial market following last week’s downgrade of the US economy.

The BTC/USD pair was flat on Tuesday even as American equities bounced back. Bitcoin was trading at $29,000, a few points above last week’s low of $28,780.

The AUD/USD pair was unchanged as the US dollar index moved sideways and as a risk-on sentiment remained.

By the end of last week's trading, the GBP/USD exchange rate rebounded to the 1.2792 resistance level, recovering from strong selling operations that pushed it towards the 1.2620 support level in the same week, its lowest in five weeks.

By the end of last week's trading, gold futures recorded tepid gains, recording a modest weekly increase.

In the last two trading sessions of last week, the price of the USD/JPY currency pair was subjected to selling operations that pushed it toward the support level at 141.55, based on the resistance level of 143.88.

At the end of last week's trading, the price of the EUR/USD tried to compensate for some of its sharp losses, which pushed it toward the support level of 1.0912.

The USD/MXN went from testing long-term lows early last week to suddenly finding volatile trading conditions upwards and challenging upper-tier resistance.

The USD/ZAR has climbed higher and sustained a stronger price range since early last week, and speculators should expect more volatility in the currency pair.

The USD/TRY stabilized, trading near new all-time highs.

Bullish head and shoulders pattern with neckline at $1.2808

The EUR/USD pair bounced back after the latest US non-farm payrolls (NFP) data showed that the labor market was softening.

The BTC/USD pair remained in a consolidation phase on Monday as demand and volatility slipped.

The AUD/USD exchange rate moved sideways on Monday morning as traders assessed the impact of last Friday’s US non-farm payrolls (NFP) data on the Federal Reserve.