Forex Daily Forecast, Analysis and Prediction

The S&P 500 Index had a positive session again on Wednesday.

The Turkish lira lost most of its gains recorded over the past two weeks, with the dollar rising strongly against major currencies and emerging market currencies.

The Dow Jones Industrial Average returned to decline during its recent trading at the intraday levels, to record losses in its last sessions, by -0.42%.

Spot natural gas prices (CFDS ON NATURAL GAS) rose in their recent trading at the intraday levels, to achieve daily gains until the moment of writing this report, by 3.73%.

The price of gold fell sharply as Treasury yields rose and investors weighed a possible cancellation of some US tariffs on Chinese consumer goods that could help ease inflation.

The US Federal Reserve's last meeting minutes and US job numbers announcement are the most important events for the Forex currency market in general and for the US dollar in particular this week.

With the return of the US dollar from the Independence Day holiday, it completed the path of its sharp gains against the rest of the other major currencies.

The euro fell to its lowest level since 2002 against the dollar, and it is falling against the pound sterling and other major currencies.

The USD/INR pair continued its bullish trend and is hovering near its all-time high.

The NZD/USD pair has been in a strong bearish trend as investors embrace a risk-off sentiment.

The bullish chart pattern is facing resistance at $20,516.

The US dollar broke higher on Tuesday to test the top of a major channel.

The US dollar broke through significant resistance near the 16.40 level.

The US dollar rallied significantly on Tuesday to show strength yet again against emerging market currencies, in this case, the Brazilian real.

The S&P 500 was all over the place on Tuesday as it looks like traders are trying to figure out what to do with themselves.