Forex Daily Forecast, Analysis and Prediction

Bitcoin continues to be strong as ETF approval draws closer.

Stock markets fell this week on expectations of higher US rates, and fears that the war between Hamas and Israel will widen into a full-scale conflict involving other actors, potentially including the USA.

Early trading last week in the EUR/USD saw bullish gains and a high for the month, only to see the currency pair once again get hit by bearish momentum and a return to lower depths.

The GBP/USD closed trading for the week slightly above lows made on Thursday, this as the currency pair continues to struggle with bearish forces.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of October 29th, 2023 here.

In the early trading hours of Thursday, the British pound took a significant dip, only to make a swift recovery, showing signs of resilience.

The British pound exhibited initial signs of weakness during Thursday’s trading session, dropping slightly before finding support around the ¥181 level, which subsequently led to a decent rebound.

During the Thursday trading session, the US dollar showed a remarkable run higher, surpassing the ¥150 level.

Crude oil markets have experienced a noticeable downturn during the early trading hours of Thursday, as a wave of geopolitical unrest continues to heavily influence oil prices.

The Aussie dollar's performance in Thursday's trading session witnessed a significant plunge before experiencing a bit of a rebound, indicating a market filled with volatility and unpredictability.

The USD/CHF has broken above the 50-day EMA against the Swiss franc during the training session on Thursday, as it looks like we are threatening the 0.90 level.

The silver market has been a bit turbulent recently, with some ups and downs.

The recent surge in gold prices has not gone unnoticed.

The euro's recent performance has left investors on edge as it once again approaches the pivotal 1.05 level.