Forex Daily Forecast, Analysis and Prediction

The BTC/USD pair has formed a bearish double-top pattern near 123,000, suggesting a potential pullback toward 112,000 as Fed policy uncertainty and Ethereum momentum weigh on sentiment.

The GBP/USD pair is gaining bullish momentum, driven by strong UK GDP data and stagflation concerns in the US, with technical indicators pointing to further upside toward 1.3785.

The EUR/USD pair is showing bullish potential after forming an inverse head and shoulders pattern, supported by resilient U.S. data and anticipation of upcoming ECB and Fed decisions.

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The EUR/USD has gone into this weekend near the 1.17025 mark, this after buying returned in force after a momentary push lower on Thursday in the wake of contradictory U.S inflation numbers.

The price of WTI Crude Oil futures went into this weekend near the 62.100 ratio, having produced results which remain near important short, near and mid-term lows.

This week’s forecast covers Bitcoin, NASDAQ, gold, silver, and key currency pairs as markets show signs of exhaustion and await September flows.

The NASDAQ 100 whipsawed on Thursday as hotter US PPI data fueled doubts over Fed rate cuts, creating turbulence near the 24,000 mark and prompting buy-on-dip strategies.

WTI crude rallied Thursday but faces strong resistance at $65 amid record US, Russian, and OPEC output. Short setup eyed on signs of exhaustion.

Gold reversed early gains on Thursday after hotter US inflation data strengthened the dollar and yields, bringing prices closer to key technical support levels.

Silver prices fell back from key resistance at $39 after strong US inflation data reduced expectations for aggressive Fed rate cuts, keeping the market range-bound.

Bitcoin retreats from record levels as stronger US inflation data tempers Fed rate cut expectations, highlighting its growing correlation with Wall Street sentiment.

Natural gas prices ticked higher Thursday on oversold conditions, yet resistance near $3 and weak seasonal demand keep the market tilted toward further declines.

EUR/USD slides after strong US PPI data fuels doubts over rapid Fed rate cuts, with a break below the 50-day EMA potentially opening the path toward 1.14.

USD/JPY remains supported by a wide interest rate differential and hot US PPI data, with a breakout above 148 potentially paving the way toward 151.