Forex Daily Forecast, Analysis and Prediction

It’s hard not to notice that the market continues to shine head and shoulders above many other assets.

I cannot help but notice that the Japanese yen has strengthened quite dramatically across the board.

The GBP/USD exchange rate continued rising after the relatively strong UK inflation numbers and the dovish statements by the Federal Reserve officials.

The EUR/USD exchange rate rose for six straight days, reaching its highest level since March 14th after more dovish statements from Fed officials.

Bitcoin price held steady on Thursday as investors focused on the Federal Reserve actions and the US election.

The Japanese yen has failed to maintain momentum despite intervention by authorities to stem its weakness.

Trading in the currency pair has been rather challenging the past week as a doses of volatility have confronted speculators.

Transparency remains an everlasting trial for retail traders’ intent on pursuing the USD/RUR.

The recent trades show that the progress of GBP/USD exchange rate has temporarily halted near the psychological resistance barrier of 1.30.

The EUR/USD price halted its gains at the 1.0922 resistance level and has returned to move down, settling around the 1.0875 level at the time of writing.

Gold prices have hit a record high as hopes for U.S. interest rate cuts grow and some traders intensify their bets on a second term for Donald Trump.

I recognize that we are pressuring a major support level in the form of 0.6050, and that of course could be a major, situation just waiting to happen.

I see that we have bounced significantly from the 50 day EMA, and now it looks like we are threatening the ¥116 level.

It's obvious that the market is struggling a little bit of a hesitation here.

I see that the US dollar has rallied again during the trading session on Tuesday against the Singapore dollar as we continue to recover.