Forex Daily Forecast, Analysis and Prediction

Supportive area above $0.6400 likely to be pivotal today.

The USD/TRY maintained its slow movements with the opening of the market today, Monday, amid the successive measures of the Turkish Central Bank, which aim to tighten the monetary policy in the country.

Amid speculations that the latest increase in interest rates from the European Central Bank will be the end of the tightening cycle, the euro did not benefit from the decision.

This week, the dollar/yen pair will be watched closely with the announcement of the policies of both the US Federal Reserve Bank and the Japanese Central Bank.

During the trades of the exciting past week the price of the pound sterling against the US dollar GBP/USD dropped strongly due to bets that the Bank of England will follow the lead of the European Central Bank

At the end of last week's trading, the XAU/USD gold price succeeded in rebounding upwards with gains extending to the resistance level of $1930 per ounce.

The USD/MXN delivered speculators' electric results last week as it essentially proved once again that it doesn’t need to correlate to the global Forex market.

The USD/ZAR continues to battle around the 19.00000 level and the near-term will likely create rather swift price action as financial institutions prepare for the Fed later this week.

The GBP/USD exchange rate dropped to the lowest level since June 6th as the US dollar index (DXY) and crude oil prices jumped.

The EUR/USD exchange rate was hovering at its lowest level since June this year as the US dollar strength continued.

Bearish double top at resistance level of $26,906.

The AUD/USD exchange rate moved sideways on Monday as traders started to reposition for the upcoming Federal Reserve decision.

The S&P 500 index appears poised to maintain its bullish trajectory, although a continuous ascent may not unfold in a straight upward trajectory.

The natural gas market displayed limited activity during Friday's trading session, hovering in close proximity to the 50-Day Exponential Moving Average.

The EUR/USD made an initial attempt to rally during the recent trading session on Friday, but the lack of substantial momentum indicates that there's still a considerable journey ahead.