Forex Daily Forecast, Analysis and Prediction

This is a market that looks like it's trying to fall apart, but quite frankly, I'm not impressed and the reason I say that is that the interest rate differential is still massive.

I can see that we still have no idea what to do with this so-called asset at this point in time.

In my daily analysis of the Australian dollar, it's easy to see that there is a lot of positivity to this currency market right now.

The lira is trading near its lowest levels ever, near 33 liras per dollar.

The EUR/USD price is stable around the 1.0840 level, amid attempts to rebound higher, but it lacks the momentum to achieve this.

A recent rally in GBP/USD has once again stalled after hitting a well-known technical barrier and Jerome Powell's sober assessment of the likelihood of rate cuts.

The yen has fallen to around 161.75 per dollar, just below its 38-year low, as the dollar strengthens.

Gold futures were little changed ahead of two crucial inflation reports later this week.

The USD/ILS has seen a bearish trend emerge since the 3rd of July when the currency pair was touching the 3.77700 vicinity.

The rate is certainly within the middle ground of its known path over the past month.

It’s easy to see that the US dollar continues to rally quite significantly against the Japanese yen.

It’s easy to see that the NASDAQ 100 continues to want to go higher, and any time we get a little bit of a pullback, it seems like it is a nice buying opportunity.

It’s obvious that the EUR/USD currency pair has no idea what to do with itself.

I can see that the DAX continues to be very noisy, but it is well supported.

It’s hard not to notice the fact that Bitcoin made a major attempt to break out to the upside in the early hours on Wednesday.