Forex Daily Forecast, Analysis and Prediction

The S&P 500 Index drifted a little lower Monday, as we await the Federal Reserve meeting and several other announcements for the week.

Ethereum pulled back a bit Monday, as it looks like we are going back and forth and trying to figure out where we are going to go next.

Bitcoin fell a bit Monday as traders came back from the weekend.

The GBP/USD currency pair initially dipped Monday to break below the 1.20 level, only to turn around and show signs of life again.

The EUR/USD currency pair went back and forth Monday as we are hanging just above the 1.02 level.

The West Texas Intermediate Crude Oil market initially fell on Monday to break through the 200-day EMA, which is a rather negative turn of events.

The GBP/USD price rose to the highest point since July 5th this year as the dollar weakness continued.

The EUR/USD remained in a tight range on Tuesday morning as investors waited for the upcoming US consumer confidence data and FOMC decision.

The BTC/USD pair retreated to the lowest level in more than a week as last week’s rebound faded.

The AUD/USD price rose to the highest level since June 2022 as the US dollar decline continued.

The Turkish lira fell during the morning trading on Monday as reports showing Erdogan's discussion of the use of the Turkish lira in international payments did not have any positive impact on the price of the lira.

Last week's trading was generally bullish for the EUR/USD currency pair, as the European Central Bank raised interest rates for the first time in 11 years,

At the end of last week's trading, the price of gold settled above the level of $1700 an ounce, and its gains extended to $1,740 an ounce, before closing the week's trading stable around the $1,726 level.

Prior to the closing of last week’s trading, the price of the USD/JPY currency pair was exposed to profit-taking operations that pushed it towards the 135.56 support level on Friday.

Despite the halt in the US dollar's gains, the gains of the GBP/USD currency pair did not exceed the 1.2063 level and settled around the 1.2000 level at the beginning of this important week's trading.