Forex Daily Forecast, Analysis and Prediction

The EUR/USD price continued falling as concerns of a more hawkish Federal Reserve pushed the US dollar to a multi-week high.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching. The first part of my forecast is based upon my research of the past 20 years of Forex prices, which show that the following methodologies have all produced profitable results:

Technical, fundamental, and sentiment Forex and CFD market analysis for the week ahead commencing 22nd August 2022.

The difference between success and failure in Forex / CFD trading is very 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.

The DAX index gained a little over 15 basis points during the trading session on Thursday, but gave back quite a bit of the gain to form an inverted hammer.

The Australian dollar rallied a bit during the trading session on Thursday as we continue to see a lot of negativity out there.

The US dollar has broken to a fresh, new high against the Japanese yen during trading on Thursday, as the uptrend looks to be continuing.

The S&P 500 index did very little during the Friday session other than frustrate traders.

The NASDAQ 100 has done very little during the trading session on Friday, as the market quite frankly looks like it’s got nowhere to be.

The British pound has fallen again during trading on Thursday as we continue to see a lot of negativity when it comes to anything against the US dollar.

The Ethereum market rallied a bit during the trading session on Thursday to reach the $1875 level.

Bitcoin has drifted a bit lower again during the trading session on Thursday, as it looks like the cryptocurrency markets are simply killing time at this point.

The Euro continues to take a bit of a beating as we have seen it drop through the 1.01 level during trading on Thursday.

The West Texas Intermediate Crude Oil market has bounced a bid from a major support level during the trading session on Thursday.

The US dollar has rallied during early trading on Wednesday to reach the 50 Day EMA against its Japanese counterparts.