Forex Daily Forecast, Analysis and Prediction

It’s obvious to me that we are reaching a major resistance barrier, looking at the €7700 level as a major ceiling.

The US dollar has pulled back a bit against the Mexican peso during the trading session on Friday, as the 20 MXN level continues to be a bit difficult.

As we have broken higher during the trading session on Friday, it looks like we are continuing to see the Swiss franc lose some of its strength.

The silver market has been so negative.

The GBP/USD currency pair erased some of its recent gains as the recent US dollar index crash eased.

The Dow Jones 30 initially tried to rally a bit during the trading session on Friday, but then gave back gains rather rapidly.

The EUR/USD pair retreated last week after the encouraging US and European consumer inflation numbers.

Bitcoin has come under pressure in the past few weeks as it continued to underperform key assets like stocks.

Gold initially tried to rally during the trading session on Friday but gave back gains as we continue to see a lot of volatility.

After reaching a new 8-month high and almost taking out the 2024 high last week, the Aussie has found some support after dropping to the major quarter-number at $0.6750.

Last week, the US Dollar recovered after economic data showed unexpected strength in the US economy, calling into question the Federal Reserve's post-September rate cuts. Stock markets ended the week mostly higher.

USD/INR: Higher Values Pursuing a Cautious Bumpy Trade Route

USD/ZAR: Healthy Bearish Trend Sustains Lower Trading Values

EUR/USD: Price Velocity and Momentum as Volatility Remains

Get the weekly Forex forecast for major currency pairs for the week of September 02-07, 2024 here.