Forex Daily Forecast, Analysis and Prediction

Bitcoin has performed very strongly over the past few days, briefly trading at a new record high and looking likely to make another important bullish breakout.

Inflationary pressures remain elevated, oil prices are relatively low, and the global economy sputters along. Current developments and energy policy in the US have created an interesting investment case, while the demand from data centers is challenging the supply. Get a shortlist of the best energy stocks to buy now.

Last week maintained the dominant trends seen in recent weeks, with major US stock market indices and precious metals breaking to new record or long-term high prices.

Explore this week’s key market moves in forex, commodities, and crypto. Top levels to watch in gold, EUR/USD, Bitcoin, and more.

USD/JPY bounces from 146 support, with resistance at the 50-day EMA and 149. Bulls eye 151 if broken, while sub-145.50 would signal downside risk.

Silver failed to clear $48 resistance, with $46 support in focus. Bulls eye $45 for value buying, while a breakout could test the historic $50 ceiling.

Gold struggles near $3,900 but pullbacks toward $3,800 are seen as buying chances. Momentum targets $4,000 as rate cuts and global risks boost safe-haven demand.

Euro remains volatile, capped by 1.18 resistance. Support lies at the 50-day EMA and trendline; breaks lower could expose 1.16–1.14, while bulls eye 1.19–1.20.

USD/MXN tests 18.50 resistance with 50-day EMA and trendline overhead. Failure favors downside toward 18.20, but risk-off flows could spark upside.

USD/CAD pushes toward 1.40 after breaking consolidation. Bulls eye 1.42 if resistance gives way, with 1.39 and 200-day EMA offering strong support.

USD/CHF holds support, testing 0.80 resistance. A breakout may target 0.81, but failure risks a slide below 0.79. Traders eye EMA and trend shift signals.

The British pound failed to hold 1.35, with risks of a drop to 1.34–1.33. Fed rate cuts fuel debate, but dollar demand remains strong in risk-off moves.

Bitcoin extends gains toward $124K. While volume is lighter, buyers eye new highs. Pullbacks near $117K remain attractive entry points for bulls.

Apple retraced after gapping higher, testing $260 as key resistance. Support holds near $250–255, with potential bullish breakout aiming at $275.

Crypto markets sprang back to life in the lead-up to October, following a two-week pullback that had many saying, “I told you so,” regarding the possibility of a “Red September.” After bottoming out near $108,600 last Friday, Bitcoin (BTC) bulls went to work to ensure King Crypto finished the month in the red, ultimately sparking a late-September rally that resulted in a monthly gain of 6.34%.