Forex Daily Forecast, Analysis and Prediction

The BTC/USD has rallied a bit heading into the weekend, showing signs of life again.

The GBP/USD price continued rising as sentiment over Rishi Sunak’s government.

The EUR/USD price pulled back slightly after the latest interest rate decision by the ECB and the strong American PCE data.

The BTC/USD remained in a consolidation phase after staging a strong comeback last week.

The AUD/USD price pulled back slightly as traders focused on the upcoming interest rate decision by the Reserve Bank of Australia (RBA) and the Fed.

Crude Oil prices will open this week via the West Texas Intermediate near short term highs.

The GBP/USD continued to attack new highs towards the end of last week, as the U.K government actually managed to have no major missteps.

Start the week of October 30, 2022 with our Forex forecast focusing on major currency pairs here.

Looking at the British pound, you can see that we have initially tried to rally a bit but have also struggled at the 1.16 level.

The S&P 500 E-mini contract initially tried to rally during the trading session on Thursday but gave back early gain as the mood continues to sour overall.

The NZD/USD has been very noisy during the trading session on Thursday, as the US dollar has been all over the place.

The NASDAQ 100 continues to fall quite significantly during the Thursday session, as we see technology stocks get absolutely hammered.

The EUR/USD has been rather negative during the trading session on Thursday, as the market has seen the European Central Bank raise interest rates to the expected 2%.

The West Texas Intermediate Crude Oil market has initially pulled back just a bit during the trading session on Thursday, but the 50-Day EMA has offered enough support to turn things around.

The USD/JPY pulled back a bit again during the trading session on Thursday as we tested the ¥145 region.