Forex Daily Forecast, Analysis and Prediction

The EUR/USD exchange rate continued falling this week ahead of the upcoming Federal Reserve minutes and US consumer and producer inflation data.

The AUD/USD exchange rate retreated for six consecutive days, reaching a low of 0.6715, its lowest point since September 16.

The euro attempted to recover a bit during the early hours on Tuesday, as we continue to look for some type of bottom.

Bitcoin is doing little and will not be in focus for most traders looking across a range of asset classes other than cryptocurrencies.

The German index initially pulled back just a bit during the early hours on Tuesday but seems to be finding the area just below the 19,000 level as important enough to turn things around and have traders jumping in the market.

The US dollar initially fell a bit during the trading session on Tuesday against the Indian rupee, testing the 84 level.

The S&P 500 initially pulled back just a bit during the trading session on Tuesday, only to turn around and show buyers jumping back into the market, as it looks like we are trying to do everything we can to continue the overall uptrend.

Gold price recorded its first weekly loss after trading in the green for three consecutive weeks.

The EUR/USD exchange rate faces the risk of further losses in the coming days; however, the downward momentum is likely to fade.

According to recent trades, the GBP/USD exchange rate has declined by 2.0% last week and still appears strong, but a limited rebound is possible in the coming days.

The recent cautious comments from Japanese central bank officials regarding further tightening brought a lot of losses to the Japanese yen against other major currencies and gave up a lot of its sharp gains.

Yesterday the USD/BRL closed near its high, and once again touched values seen when nervous buying took place on Thursday and Friday of last week.

The USD/SGD jumped higher on Friday after the U.S jobs numbers announcement, and in early trading this week has sustained a new price realm as speculators question what’s next for the currency pair.

The Euro has found a little bit of support near the 1.0950 level, an area that has been important multiple times in the past.

The DAX has shown itself to be negative during the trading session on Monday, but at this point in time, it looks like the market has seen the 19,000 euros level as important.