Forex Daily Forecast, Analysis and Prediction

It's easy to see that we have been chopping back and forth over the last several sessions.

The US dollar has been somewhat sideways during the last couple of sessions, but especially on Tuesday. All things being equal, this is a market that does look a little bit stretched.

The US dollar has rallied for the majority of the month of July, as we see the US dollar threatening the 18.80 MXN level.

I recognize that the 0.84 level has offered a significant amount of support.

The Malaysian Ringgit continues to get stronger by the day as it looks like traders are starting to bet on the idea of the Federal Reserve perhaps cutting rates.

The month of July has been a bit negative for the West Texas Intermediate Crude Oil market.

I continue to focus on the $2,400 level as it was a major area of noise in the past.

Silver initially plunged during the early hours on Tuesday again, but then turned around to show signs of life.

It's easy to see that the German index continues to have plenty of buyers on each and every dip

The GBP/USD pair slumped in the overnight session as concerns about the British economy continued as the Fed prepared to deliver its July interest rate decision.

The EUR/USD exchange rate continued falling this week as traders reacted to Tuesday’s vital data from the US and Europe.

Bitcoin retreated on Wednesday morning as concerns that the US might move to liquidate its vast holdings rose.

At the start of this important week's trading, the Japanese yen rose to around 153 yen against the US dollar, after rising more than 2% last week.

The GBP/USD exchange rate may remain under pressure amid a potential UK interest rate cut and Friday’s US jobs report.

The EUR/USD exchange rate is expected to remain under moderate pressure in the coming days, with focus on Eurozone inflation figures ahead of the Fed decision and US wage figures.