Forex Daily Forecast, Analysis and Prediction

Amid strong selling pressure, the USD/JPY currency pair has been on a downward trajectory throughout this week, reaching a support level of 152.14 at the time of writing

Gold prices failed to sustain their upward momentum yesterday, unable to breach the resistance level of $2432 per ounce.

The EUR/USD has continued its decline, reaching a support level of 1.0825, falling short of its four-month high of 1.094 reached on July 17.

While the highs and lows technically of the USD/PKR can certainly deliver trading perspectives, the interpretations of the currency pair’s gyrations can also be debated.

In my daily US dollar against Canadian dollar analysis, I noticed that the 1.38 level is an area that has been important multiple times in the past and it has been again on Wednesday.

The broad Forex market and the USD/ILS have seen fast price action early this morning.

In my daily analysis of the dollar against the yen, the first thing that comes to mind is that we not only broke down below the 155 yen level, but we have collapsed below it.

I recognize that we are pulling back, but it's possible that we could also be approaching a massive support level that could turn things around.

I recognize immediately that we have seen a brutal sell-off, but quite frankly, I think we are a bit overdone.

In my daily DAX analysis, it's easy to see that the 50-day EMA continues to be very much in the minds of traders.

It's easy to see that the market is perhaps a bit oversold.

In my daily analysis of the Australian dollar, it's easy to see that we had initially pulled back but have found a significant amount of support near the 0.6575 level.

I recognize immediately that we had gotten oversold.

In my daily Bitcoin analysis, I have to admit that I am focusing on the $67,000 level, an area that's been important more than once.

It's easy to see that the market continues to see a significant amount of volatility.