Forex Daily Forecast, Analysis and Prediction

Confluent support at lower trend line may give a long opportunity later.

It’s easy to see that the USD/CNH pair is bullish

It’s clear to me that we don’t really have anywhere to be at the moment.

I can see that the USD/SGD pair is simply consolidating in a 50 point range.

I have recognize that the euro continues to see strength overall.

It’s obvious that the gold market is lacking a significant amount of momentum.

The GBP/USD exchange rate bounced back as the US dollar index (DXY) retreated after a statement by Jerome Powell, the Federal Reserve chair.

Bitcoin price dropped sharply in the overnight session even as the US dollar index dropped and US equities continued their recovery.

The AUD/USD exchange rate rose slightly after Tuesday’s Reserve Bank of Australia (RBA) minutes and a statement by Jerome Powell.

The British pound started the new week trading higher against the US dollar, although a crowded US data calendar and the UK elections could cause some volatility.

According to recent trading, we have seen the EUR/USD price recover with the emergence of anti-nationalist bloc companies, inflation in the eurozone, and US jobs also in focus.

As the start of a key trading week, the Japanese yen traded at 161 yen to the dollar, slightly below its 38-year low of 161.72 yen set last week.

At the start of trading this week, gold prices jumped towards the $2,338 resistance level before stabilizing around $2,332 per ounce at the time of writing this analysis.

The US dollar has rallied pretty significantly during the hours in the early part of Monday, but when you look at this chart it seems very noisy to say the least as we're hanging around the 18.40 level.

The US dollar has exploded to the upside during the trading session on Monday to slam itself above the shooting star on Friday.