Forex Daily Forecast, Analysis and Prediction

Bulls have failed to send Bitcoin breaking out of its medium-term consolidation zone, but short-term bulls are eyeing a breakout above $67,715.

The British pound fell early on Friday, as we are trying to determine whether or not we are going anywhere. Afterall, we have been in a well-defined range for a while, as both central banks are similar in their outlooks.

The Euro continues to see a lot of noisy trading, as we are obviously in the same range we have been in for some time now.

The gold market has rallied slightly on Friday, as traders are trying to determine whether or not interest rate markets will calm down.

The US Dollar is continuing its assault on the Japanese yen, as we are approaching a massive resistance barrier that has stood since 1990.

The US Dollar rose against the Swiss Franc on Friday, as we continue to see people play the interest rate differential. This is a pair that pays you a positive swap as well, leading to even greater gains for some.

The Bitcoin market continues to see a lot of noise with the interest rate situation and the latest headlines coming out of the Middle East conflict.

The US dollar continues to see a lot of buying pressures in most markets, including against the Canadian dollar, based on higher US rates at the moment.

The Euro rallied again during the Friday trading, as we continue to see a lot of interest rate traders getting involved in anything they can against the Franc. Expect buyers on dips from what I see.

The GBP/USD pair has sold off in the past few weeks as traders assess the impact of the ongoing war on the economy. The pair dropped to 1.3260 on Monday, down sharply from the year-to-date high of 1.3870.

US dollar rose against the Mexican peso on Friday, as we continue to see a lot of interest rate moves driving things forward.

Silver continues to be very noisy at the moment, as the interest rate markets continue to see a lot of volatility.

The EUR/USD exchange rate dropped for four consecutive days as the US-Iran war escalated, pushing more investors to the safety of the greenback. It dropped to 1.1510 on Monday, down substantially from the year-to-date high of 1.2082.

The AUD/USD pair continued its strong downward trend this week, reaching its lowest level since January 23. It has dropped in the last four consecutive days and is down by 4.3% from the year-to-date high.