Forex Daily Forecast, Analysis and Prediction

Gold rallied a bit during the trading session on Friday, which is not a huge surprise considering that it's been in an uptrend.

The British Pound initially tried to rally a bit against the US dollar during the trading session on Friday, but then plunged as Israel attacked Iran.

The British pound continued its strong sell-off on Monday morning as all signs pointed to a Bank of England (BoE) rate cut as soon as in its next meeting.

The EUR/USD pair stabilized last week.

Bitcoin price held steady on Monday after the network went through its fourth halving during the weekend.

The Australian dollar was flat against the greenback on Monday morning as traders refocused on Australia’s inflation report.

The EUR/USD finished the week of trading near the 1.06520 mark, on last Monday the EUR/USD also was around this price vicinity.

Hawkish remarks from Fed Chair Powell and ongoing tension in the Middle East saw the US Dollar continue to gain while stocks and most commodities sold off firmly, excepting precious metals.

The price of WTI Crude Oil started last week around the 85.000 ratio, this after the previous weekend’s loud developments between Iran and Israel.

Get the weekly Forex forecast for major currency pairs for the week of April 22-27, 2024 here.

The WTI crude oil market has initially fell during the trading session here on Thursday, but then turned around as we bounced from the 50 day EMA.

The Australian dollar has tested the 0.6450 level early on Thursday, but it looks as if it's going to struggle to continue going higher.

The NASDAQ 100 went back and forth early during the trading session on Thursday.

Gold has done a little bit of sideways dancing during the early hours on Thursday just as we have seen it do all week.

The dollar has recovered after initially falling down a bit against the Japanese yen during trading on Thursday as we continue to see the buy on the dip mentality come into the picture.