Forex Daily Forecast, Analysis and Prediction

Start the week of August 1, 2022 with our Forex forecast focusing on major currency pairs here.

The gold markets have been drifting for quite some time, reaching down to the crucial $1700 area.

The EUR/USD pair has been on a downward trajectory for some time, as we are threatening parity.

The GBP/USD currency pair has been hanging about the 1.20 level during most of July.

The West Texas Intermediate Crude Oil market was all over the place during July, and I suspect that August probably has more of the same in store for traders.

The S&P 500 rallied a bit heading into the month of August, as we have pierced the 4000 level.

The NASDAQ 100 tried to recover toward the end of the month in July, as we are very volatile, to say the least.

As the month of July is ready to close BTC/USD has produced a more positive trajectory, but gains have proven incremental and the speculative struggle ensues.

The gold markets have rallied rather significantly for the second day in a row.

The Australian dollar initially tried to rally during the session on Thursday as we reached the 0.70 level.

The US dollar has broken down during the trading session on Thursday, slicing below the bottom of the up-trending channel that I had been following.

The NASDAQ 100 initially sold off during the trading session on Thursday as GDP numbers came out much weaker than anticipated.

The S&P 500 has rallied again during the trading session on Thursday as we continue to see a line of noisy behavior.

The British pound has pulled back a bit during the training session as the US dollar has picked up a bit of strength.

The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Thursday.