Forex Daily Forecast, Analysis and Prediction

The gold markets continue to chop back and forth, as nobody really has a grasp on what to do next.

The Australian dollar initially tried to rally during the trading session on Tuesday, trying to take out the 0.75 handle.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday, but nothing overly dramatic.

The AUD/USD pair erased some of the losses made on Tuesday after the strong US consumer inflation data.

The EUR/USD crashed to the lowest level since April this year after the strong US Consumer Price Index (CPI) data.

For four consecutive trading sessions, the price of the EUR/USD currency pair is trying to correct upwards.

The US dollar gave up some of its gains, giving the price of an ounce of gold the opportunity to correct upwards, and the price of gold settles around the level of 1813 dollars an ounce at the time of writing the analysis.

The price of the USD/JPY currency pair returned to stability above the 110.00 psychological resistance in an attempt to maintain the general trend, which is still bullish

For three trading sessions in a row, the price of the GBP/USD currency pair is settling above the 1.3900 psychological resistance.

The bearish trend in the USD/MXN remains tantalizing, but even as the forex pair tests lows sudden bursts higher have been persistent.

Gold has seen a solid trend higher emerge in July, but after achieving a high of nearly 1818.00 on the 8th, it has become choppy.

ADA/USD has slumped to short-term lows as the broad cryptocurrency market continues to battle negative headwinds.

DOGE/USD is hovering over important lower support junctures and speculators should be prepared for bursts of volatility.

Yet the price looks well supported at 0.7450.

The range is likely to hold but resistance is more defined than support.