Forex Daily Forecast, Analysis and Prediction

Bitcoin Rallies Early in the Session. Are We About to See Trouble?

As more people chase the so-called "FOMO trade" that gold has become, gold markets have rallied during Thursday's trading session.

The USD/TRY pair maintained its gains in early trading on Thursday.

During yesterday's trading session, the GBP/USD pair rose by a third of a percent to reach 1.2744 after the US job quit rate fell.

Since the start of today's trading session on Thursday, the USD/JPY exchange rate has been falling sharply as investors continue to bet that the Bank of Japan (BoJ) will start cutting interest rates soon.

Even before the recent decline in the US dollar, the gold price continued its sharp upward trend, with gains reaching the $2161 resistance level per ounce, a historic record high for the gold price.

US dollar exchange rates were broadly weaker on the day a US jobs survey revealed that fewer people are leaving their jobs each month to pursue higher-paying job opportunities.

The crude oil markets rarely cease to find buyers these days, and I believe that a true breakout is probably just a matter of time.

Due to buyers reentering the market on Wednesday to make up for Tuesday's losses, silver prices are still quite erratic.

The natural gas markets are still teasing us with the possibility of breaking above the $2 mark, but I believe it is still too soon to assume that this will happen quickly.

The USD/MYR saw a rapid move lower in trading this morning.

Caution with Unusual Spikes, Vigilance Needed.

The EUR/USD exchange rate continued its strong uptrend after Jerome Powell commented on inflation and interest rate cuts.

The longer-term outlook for interest rates indicates that this pair will continue to rise.

It appears that the market's general long-term upward trend is still in place.