Forex Daily Forecast, Analysis and Prediction

On Monday, West Texas Intermediate (WTI) crude oil prices saw a slight retreat, reflecting the broader energy market's weakness.

Since touching a low of nearly 81.5580 on early Thursday of last week, the USD/INR has climbed incrementally higher.

The NZD/USD is trading slightly above the 0.62000 mark as of this writing.

The S&P 500 was quiet early on Monday as the world celebrated Labor Day.

The NASDAQ 100 has been very quiet during the trading session on Monday, as we continue to wait to see whether we can truly take off to the upside.

The GBP/JPY has rallied in recent trading sessions, reaching above the ¥172 level.

The EUR/USD has been consolidating around the 1.10 level in recent trading sessions, with a lot of noise to chew through.

The AUD/USD has been experiencing a bit of a bounce recently, with a slight increase during the Monday trading session.

My last signal on 20th April was not triggered as there was no bearish price action when the price first reached the resistance level which I had identified at $0.6753.

The US dollar index bounced back as investors shifted to a risk-off sentiment following the collapse of First Republic Bank and after the weak US manufacturing output data.

The EUR/USD exchange rate dropped on Monday and early Tuesday after the collapse of First Republic Bank and after the latest US manufacturing PMI data.

Bitcoin and other cryptocurrencies continued slipping as the recent bullish momentum faded.

The bulls struggled a lot during the week’s trading to push the price of the GBP/USD currency pair to breach the psychological resistance level of 1.2500.

XAU/USD gold futures settled above the $2000 psychological resistance once again to settle the last trading week.

The stability of the exchange rate of the EUR/USD currency pair against the US dollar is still above the psychological resistance 1.1000, which supports the bullish trend of the currency pair.