Forex Daily Forecast, Analysis and Prediction

The Canadian dollar pulled back a bit on Friday, reaching down to the ¥105 level.

The West Texas Intermediate Crude Oil market pulled back a bit Friday, perhaps in reaction to being a little overstretched, or perhaps due to inflation numbers.

Bitcoin fell a bit Friday as we continue to see the US dollar strengthen overall.

The British pound got hammered Friday as the interest rate announcement in the United States was much stronger than anticipated, sending the GBP/USD pair below the 1.24 handle and leaning toward the 1.23 level.

The price is more bullish above 0.7063.

The GBP/USD pair declined sharply as odds of a more aggressive Federal Reserve continued.

The BTC/USD price crashed to the year-to-date low as investors remained concerned about the rising inflation, interest rates, and recession chances.

The EUR/USD pair dropped sharply as investors reacted to the hawkish interest rate decision by the European Central Bank (ECB) and the strong US inflation data.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of June 13, 2022.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of June 13, 2022 here.

Start the week of June 13, 2022 with our Forex forecast focusing on major currency pairs here.

The GBP/USD pair initially tried to rally during the training session on Thursday but get back gain as we continue to see a lot of negativity.

Polygon has rallied a bit during the trading session on Thursday, as we continue to hang around the $0.60 region.

Cardano has done very little during the trading session on Thursday as we continue to see a general malaise in the crypto markets.

The S&P 500 has initially tried to rally a bit but get back gain as we are starting to focus on the CPI numbers coming out on Friday.