Forex Daily Forecast, Analysis and Prediction

The UK CPI came in high at 2.5%.

If the US Dollar Index breaks the 93 handle, the euro is going to be absolutely smoked.

The British pound tried to rally during the trading session, but then broke down significantly as the US dollar got a push higher during later trading hours.

The Bitcoin market initially tried to rally during the trading session on Tuesday, but then broke down again as we continue to see bearish pressure in this market.

The S&P 500 pulled back just a bit during the trading session on Tuesday as the 4400 level has offered a bit of resistance.

The NASDAQ 100 shot higher during the trading session on Thursday as we went looking towards the 15,000 level.

The USD/CAD pair rose again during the trading session on Tuesday as we have broken above the 1.25 level yet again.

The DAX Index did pull back a little bit during the trading session on Tuesday, but it is not much to worry about at this point.

The gold markets continue to chop back and forth, as nobody really has a grasp on what to do next.

The Australian dollar initially tried to rally during the trading session on Tuesday, trying to take out the 0.75 handle.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday, but nothing overly dramatic.

The AUD/USD pair erased some of the losses made on Tuesday after the strong US consumer inflation data.

The EUR/USD crashed to the lowest level since April this year after the strong US Consumer Price Index (CPI) data.

For four consecutive trading sessions, the price of the EUR/USD currency pair is trying to correct upwards.

The US dollar gave up some of its gains, giving the price of an ounce of gold the opportunity to correct upwards, and the price of gold settles around the level of 1813 dollars an ounce at the time of writing the analysis.