Forex Daily Forecast, Analysis and Prediction

Although the price is taking its time to move, the technical picture remains basically bullish following the price making a new long-term high above $1.1000 a few days ago.

The GBP/USD exchange rate remained in a tight range.

Bitcoin price lost momentum in the overnight session.

The AUD/USD exchange rate retreated in the overnight session.

The Japanese yen has declined to around 146 yen against the US dollar, retreating from its seven-month high of 141.68 as the unwinding of popular carry trades slowed while investors continued to assess the divergent monetary policies between Japan and the United States.

The GBP/USD currency pair has seen increased losses since the start of this week, extending its decline to the support level of 1.2662, its lowest in over a month.

The EUR/USD currency pair has maintained stability around and above the 1.09 level, following its climb to a seven-month high of 1.1008 dollars.

During yesterday's trading, the price of gold attempted to rebound upwards, gaining to the resistance level of $2418 per ounce.

Financial institutions which trade the USD/ILS have certainly produced choppy conditions.

The USD/MYR is near the 4.4855 ratio as of this writing with fast price changes being demonstrated.

The Australian dollar simply doesn’t seem to be willing to hang on to gains for a significant amount of time.

We could not hang on to the gains.

It looks like we are going to continue to see a lot of negative pressure.

The first thing I notice is that the market is trying to do everything it can to find its floor.

The British Pound is falling again against the US Dollar as the US Dollar begins to recover recent losses, while the British Pound is a relatively weak currency.