Forex Daily Forecast, Analysis and Prediction

For two days in a row, the EUR/USD price failed to break above the 1.0750 level and the euro’s gains faltered after policymakers indicated that they needed more evidence that price pressures were under control.

A pause in the dollar's advance allowed gold prices to rebound, reaching a high of $2344 an ounce at the time of writing, the highest in two weeks.

The Japanese yen's losses widened to over 161.90 against the US dollar, falling to its lowest level in 38 years due to the glaring interest rate differentials between Japan and the US.

The US dollar initially did try to rally a bit during the trading session on Thursday, but we continue to simply bounce around in this pair due to just the lack of any real momentum.

The British pound initially pulled back just a bit to look for support during the trading session on Tuesday as we are reaching towards the 200 day EMA.

The currency pair last week was certainly traversing mid and long-term higher ratios.

The NZD/USD is near its monthly low, but still traversing the higher elements of three month technical charts.

The CAC initially fell during the trading session on Tuesday to test the crucial 7,500 euros level.

The British pound has rallied against the Swiss franc during the early hours on Tuesday, but it looks to me like we are trying to go much higher, perhaps reaching to the 1.15 level.

The DAX initially fell during the trading session that made up Tuesday as we tested the 18,000 level but have since bounced about 150 euros to the upside.

Confluent support at lower trend line may give a long opportunity later.

It’s easy to see that the USD/CNH pair is bullish

It’s clear to me that we don’t really have anywhere to be at the moment.

I can see that the USD/SGD pair is simply consolidating in a 50 point range.

I have recognize that the euro continues to see strength overall.