Forex Daily Forecast, Analysis and Prediction

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The GBP/USD will begin trading this week near the 1.24125 mark.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of April 16th, 2022 here.

The silver market has seen significant bullish momentum during Thursday's trading session, with the precious metal shooting straight up in the air.

The GBP/USD has continued to rally during the Thursday trading session, breaking above the key 1.25 level.

The West Texas Intermediate Crude Oil market did not move much during Thursday's session, as the market continues to hover under very significant overbought conditions.

The EUR/USD rallied during Thursday's trading session, as the market is trying to fend off any potential US dollar strength.

The AUD/USD has shown some signs of strength, but the market continues to be challenged by various resistances, particularly the 0.68 level.

The US dollar has experienced back-and-forth movement during Thursday's trading session, hovering around the 50-Day EMA and sitting just below the 200-Day EMA indicator.

The S&P 500 was quite noisy during Thursday's session, with the PPI numbers coming out lighter than expected.

The GBP/JPY has shown signs of strength during Thursday's trading session, rallying a bit.

Natural gas markets have fallen during the trading session, albeit very slowly and without much fanfare on Thursday.

Gold markets experienced a significant upward trend during the trading session on Thursday, with the US dollar struggling after the PPI numbers were missed.

Weak US inflation readings helped the bulls push the EUR/USD price towards the psychological resistance level of 1.1000

The XAU/USD gold bulls gained additional momentum with the weakness of US inflation readings, which allowed prices to move towards the $2028 level