Forex Daily Forecast, Analysis and Prediction

In my daily analysis of the US dollar against the Chinese yuan it's obvious that we still have plenty of support near the 7.28 level.

The recent gains in the GBP/USD price have been capped at the 1.2845 resistance level.

EUR/USD’s gains have been temporarily halted around its highest in a month with gains reaching the resistance level of 1.0845 and are stabilizing around the level of 1.0810 at the time of writing.

The Japanese yen has returned to around 161 yen per US dollar, paring gains made in recent sessions.

Gold prices retreated below $2,350 an ounce during yesterday's trading session, extending losses from a one-month high of $2,390 touched on July 5th.

The USD/RUB has traded lower incrementally since the first week of May when the 94.3400 level was challenged higher.

The NZD/USD currency pair is trading around 0.60870 as of this writing.

After breaking down to a 2-month low price below $55k, Bitcoin has recovered with a weak bullishness, supported by the risk-on rally of recent days. The price is now rejecting the resistance level at $59,366.

The GBP/USD exchange rate retreated slightly on Tuesday.

The EUR/USD exchange rate held steady overnight as traders focused on Jerome Powell’s statement and the upcoming US inflation data.

In my daily GBP/JPY analysis, the British pound has shown itself to be very strong yet again against the Japanese yen as we continue to see upward trajectory, mainly based on the interest rate differential.

The AUD/USD exchange rate held steady after the Fed’s Jerome Powell signaled that the central bank was preparing for interest rate cuts if inflation continues retreating.

In my daily US dollar versus Canadian dollar analysis, it's obvious that we have a lot of support underneath near the 1.36 level.

In my daily British pound, US dollar analysis, it's hard not to notice that we are banging up against the 1.28 level.

In my daily Euro/US dollar analysis, it's hard not to notice that we are essentially sitting still.