Forex Daily Forecast, Analysis and Prediction

At the beginning of this week’s trading, with the US dollar’s gains halted slightly, the GBP/USD price is moving around 1.2685 at the time of writing.

EUR/USD jumped to the resistance level of 1.0767 at the time of writing this analysis.

Gold prices are hovering around the $2325 per ounce level as investors continue to assess the latest US inflation data.

The Dax asset looks as if it continues to consolidate just above a significant amount of support.

We are seeing a lot of noisy behavior and I think at this point we are just simply trying to sort out whether or not we are going to have more risk taking or more risk aversion in the markets.

In today’s Nasdaq 100 analysis you can see that there is a lot of like noisy behavior.

The gap lower has been delivered on the heels of South Africa announcing that coalition political parties have formally agreed to minister posts.

USD/MXN remains nervous due to changing sentiment from Mexico's aggressive Morena party.

Both currencies are relatively strong.

The US dollar initially pulled back against the Chinese Yuan, only to turn around and show signs of strength again.

The US dollar has rallied slightly during the early hours on Friday against the Russian ruble but continues to see a lot of noise overall.

In today’s GBP/JPY analysis we continue to see a lot of bullish pressure on each dip, and I think that it is only a matter of time before buyers come in and pick this market up.

The euro has initially fell a bit during the trading session on Friday, to dip down below the 1.07 level yet again.

The Australian dollar initially fell during trading on Friday but turned around to show signs of hesitation.

In today’s gold analysis, we can see that there is a certain amount of support underneath.