Forex Daily Forecast, Analysis and Prediction

The crude oil market rallied a bit during the early hours on Friday, and then simply took off after Jerome Powell finally admitted that the Federal Reserve is likely to cut rates in a bit of a cycle.

The British pound has rallied rather significantly during the trading session, smashing through the top of a shooting star.

The GBP/USD currency pair soared to a high of 1.3217 as the greenback sell-off gained steam.

The EUR/USD exchange rate surged to its highest point since July 2023 after Jerome Powell’s dovish statement at the Jackson Hole Symposium.

The first thing I see is that we have broken higher in the early hours of Friday in the CAD/CHF pair.

Bitcoin price made a strong comeback last week, joining other assets like stocks after the dovish Fed Chair statement.

The AUD/USD pair continued soaring after signs emerged of a potential Federal Reserve and Reserve Bank of Australia (RBA) divergence.

I can see that we initially tried to reach the 200-Day EMA and break above it.

It’s obvious that we are very much in an uptrend.

The first thing I see is that the US dollar did of course fall rather significantly against the Indian rupee.

We are doing everything we can to reach all-time highs.

Proving behavioral sentiment is often the main factor in Forex, the GBP/USD climbed with rapid capability when U.S Fed Chairman Jerome Powell reiterated what most financial institutions already knew.

On Thursday of last week WTI Crude Oil was trading rather serenely around a low of 72.520, a mark it had traded below on Wednesday, but suddenly the commodity began to traverse higher.

Market Forecast: FTSE 100, USD/CHF, NZD/USD, EUR/USD, Gold, ASX 200.

In my daily analysis of the natural gas markets, it’s obvious that we are still struggling overall, as we have been sideways for a while.