Forex Daily Forecast, Analysis and Prediction

The GBP/USD price rose slightly as the market focused on the political situation in the UK and the rising possibility of a recession in the country.

The EUR/USD price continued recovering as investors refocused on the upcoming interest rate decision by the European Central Bank (ECB).

Bitcoin price remained in a consolidation phase as investors waited for the next catalyst.

The AUD/USD price continued rebounding on Monday as the US dollar retreated and after the relatively strong Chinese economic data.

The Euro has initially pulled back a bit during the trading session on Friday, but then shot much higher as the Bank of Japan has intervened in the Forex markets.

The S&P 500 rallied significantly during the trading session on Friday, as US dollar got clobbered due to the Bank of Japan coming out and shorting the greenback.

The British pound initially fell during the trading session on Friday, as we continue to see a lot of negativity.

The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Friday,

The NASDAQ 100 as rallied significantly during the trading session on Friday, as the 11,000 area has offered support.

The US dollar has gone back and forth against the Japanese yen during the trading session on Friday as the Bank of Japan has intervened.

Gold markets initially drifted toward a major support level in the form of $1620, before turning around and showing signs of strength.

The German index initially pulled back a bit during the trading session on Friday to reach out to the €12,500 level,

Bitcoin has initially pulled back a bit during the trading session on Tuesday, but then turned around to show signs of life.

The Australian dollar has initially pulled back just a bit during the trading session on Friday to reach down toward the bottom of the overall consolidation area

Start the week of October 23, 2022 with our Forex forecast focusing on major currency pairs here.