Forex Daily Forecast, Analysis and Prediction

The S&P 500 Index initially pulled back Friday but then turned around to show signs of bullish pressure late in the day.

Ethereum had a nice run over the last several days but slowed down on Friday to show signs of hesitation.

The West Texas Intermediate Crude Oil market rallied significantly Friday to break above the $100 level initially but has turned around to show signs of exhaustion.

The NASDAQ 100 rallied a bit Friday as it looks like we are threatening a major resistance barrier.

Looking heavy at $22,236.

The USD/CAD price came under pressure on Monday morning as the US dollar weakness continued.

The GBP/USD price made a bullish breakout as investors reflected on last week’s Federal Reserve decision and the upcoming Bank of England (BoE) meeting.

The AUD/USD pair held steady on Monday morning as the market waited for the upcoming interest rate decision by the Reserve Bank of Australia (RBA).

The EUR/USD price remained in a tight range on Monday morning as investors repositioned for the new month.

The USD/INR price dropped to the lowest level since July 11th as investors waited for the upcoming interest rate decision by the Reserve Bank of India (RBI).

The USD/INR will start the month of August near crucial short term support levels, this after achieving record high values in the middle of July.

The USD/ZAR will begin the month of August within a technical middle ground per its one month chart and traders should be ready for choppy conditions to emerge.

After creating a high not seen since 1998 in the USD/JPY in mid-July, the currency finished trading for the month near lows not seen since mid-June.

ETH/USD has been able to sustain gains that it has produced incrementally, increasing support levels and helping to create a rather speculative technical tide of wagers.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 1, 2022 here.