Forex Daily Forecast, Analysis and Prediction

The Nikkei 225 rallied a bit during the session on Friday, gaining almost 4%.

The NASDAQ 100 has rallied a bit during the trading session to break above the 11,800 level, showing signs of life.

Gold markets have rallied again during the trading session on Friday, as we have broken above the 200-Day EMA.

The USD/CAD has fallen rather hard during the trading session on Friday, as we continue to see the greenback lose strength.

The EUR/USD has rallied rather significantly during the trading session on Friday, as we continue to see the market react to the idea of “lower inflation”, being “just” 7.7% in the United States.

The GBP/USD rallied again during the trading session on Friday, as we are now above the 1.18 level.

The BTC/USD has fallen rather significantly during the trading session on Friday as the $18,000 level has offered a significant barrier.

The AUD/USD has rallied significantly during the trading session on Friday, as we continue to see traders react to the inflation numbers in America coming out at “only 7.7% year-over-year” on Thursday.

The GBP/USD price continued its bullish trend even after worrying economic data from the UK.

The EUR/USD price continued surging as investors embraced a risk-off sentiment following the weak US inflation data.

The BTC/USD price remained under pressure during the weekend as cryptocurrency outflows continued.

The AUD/USD price continued its recovery as the US dollar strength fizzled.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of November 6th, 2022 here.