Forex Daily Forecast, Analysis and Prediction

A rather cautious higher price range in the USD/JPY has made itself clear the past week of trading.

The USD/JPY continues to exhibit significant sideways volatility against the Japanese yen, suggesting the formation of a bullish flag.

The GBP/USD, during Monday's trading session, initially exhibited an upward trend, indicating a potential rally.

Silver experienced a slight decline during Monday's trading session, with the market now approaching the 50-Day Exponential Moving Average (EMA), just above the $24 level.

Natural gas markets experienced a slight downturn during Monday's trading session, with the summer range continuing to influence price movements.

The West Texas Intermediate (WTI) Crude Oil market experienced a significant downturn at the start of the trading week on Monday, continuing the trend of volatile behavior.

The GBP/USD exchange rate made a strong reversal during the American and Asian sessions ahead of key economic data from the US and the UK.

Bitcoin price continued to diverge from American stocks as regulatory concerns continued.

The Australian dollar drifted below its last week’s high as market participants waited for the important US consumer inflation data and the Fed interest rate decision.

My previous EUR/USD signal on 6th June was not triggered, as there was no bullish price action when the price first reached the area of identified support at $1.0704.

By the end of last week's trading, the bulls succeeded in pushing the EUR/USD currency pair, with gains, towards the 1.0788 resistance level, before closing trading around 1.0749

During last week's trading, the bulls succeeded in capturing an important resistance level, as the GBP/USD currency pair moved above the 1.2550 resistance.

The course of the US dollar pairs is on an important date this week, with a package of economic data and influential events, led by the announcement of US interest rates.

The halting of the US dollar's gains allowed the XAU/USD gold price to recover to the $1973 resistance level

The Turkish lira continued its losses against the US dollar at the beginning of the new week, as the Turkish currency continued its rapid losses against the dollar for a period of about a month.