Forex Daily Forecast, Analysis and Prediction

I'm watching this pair closely because we are hovering right around a major technical area that I think you should be watching yourself. The US dollar is hanging around the 4.50 Malaysian ringgit level, but it is also sitting right there with the 200-day EMA.

A bearish breakdown could target $1.4200.

Looking to short near $1.0400.

Looking to short this pair near the 1.2350 level and again at 1.2500 at the first signs of exhaustion

The US dollar did fall a bit during the early hours on Tuesday against the Swiss franc as the PPI numbers in America came out flat instead of up 2 10ths of a percent as anticipated. That being said, I don't think that changes much. Most people are going to be paying attention to the CPI numbers on Wednesday, and you should probably also keep an eye on the fact that the market is at an extreme high, the 0.92 level being that high. That level has been important for quite some time, and I think it will continue to be. So, if we can break above there on a solid daily close, perhaps maybe at 0.9250, I think this is a pair that goes much, much higher. I think that happens eventually anyways.

For the second consecutive trading session, gold prices are moving higher with gains extending to the resistance level of $2684 per ounce, which is stable

For the second consecutive trading day, the EUR/USD currency pair has attempted to halt its recent sharp decline, which extended to a low of 1.0177, the lowest

The USD/ILS has maintained a rather stable range and continues to show that financial institutions appear to be satisfied with the current price equilibrium of the currency pair.

Gold remains resilient near $2668 as safe-haven demand persists, with US inflation data and dollar movements key to testing $2700 resistance.

EUR/USD approaches parity as US economic strength and Eurozone challenges drive selling pressure, with oversold conditions offering a potential short-term bounce.

GBP/USD finds support at 1.21 amid oversold conditions, with any bounce likely offering selling opportunities as UK and US policy dynamics weigh on the pair.

GBP/JPY rebounds sharply from ¥190 support, though UK challenges and yen strength limit sustained gains in the pair.

EUR/USD extends its decline below 1.02, targeting parity as bearish trends dominate, with any bounce likely presenting short-selling opportunities.

USD/CAD consolidates within a bullish trend, holding key levels as rising US yields and market dynamics influence potential upward movement.

USD/CHF tests 0.92 resistance, eyeing parity as rate differentials favor the dollar, with 0.91 providing key support for potential pullbacks.