US Dollar Forecast

GBP/USD recovery intact but facing resistance overhead.

The Dollar is ultimately set to appreciate against the Euro over the coming weeks and months say analysts at Danske Bank.

The Euro to Dollar exchange rate came close to its new year low at one point this week but would trigger a technical reversal of its six-month recovery trend on the charts in the event of any daily close below the 1.0548 level, according to technical analysis from BofA Global Research.

Technical strategists at Swiss bank Julius Baer have closed all short U.S. Dollar short positions in the wake of recent price action.

The Euro to Dollar exchange rate entered the new week looking for a foothold near 2023 lows but at risk of a deeper corrective setback following broad gains for the greenback, which could be likely to keep many currency counterparts on the defensive in the days ahead.

The Pound to Dollar exchange rate has most recently succumbed to a broad rebound by the greenback that could be likely to constrain any attempted recoveries this week even if Sterling does itself manage to defy any further headwinds blowing in from across the Atlantic over the coming days. 

The Dollar can remain firm in the near-term but foreign exchange strategists at Standard Chartered say strength should likely be brief, allowing the likes of the Euro and Pound to resume a stalled uptrend.

The Dollar is expected to maintain pressure on the Pound and Euro for the first half of 2023.

The Euro's ongoing decline against the Dollar has further to run say foreign exchange analysts at a leading international investment bank.

2023 will be tough for GBP says Bank of America, but 2024 has silver linings.

The pullback in the Euro has further to run with strategists at Rabobank saying currency markets have further adjustments to make on account of the Federal Reserve's message on interest rates.

GBP/USD forecasts at Wells Fargo show 1.26 on horizon, EUR/USD to stay near current levels until H2.

EUR/USD tests technical support at 1.0679 on charts, risks deeper corrective setback to 1.0535 short-term.

GBP/USD is underpinned by multiple layers of support, fibonacci levels & key average underpin near 1.1950.

USD in strong comeback following jobs report, GBP/USD failures create 'double top' pattern.

The Euro to Dollar exchange rate was turned away from 10-month highs last week, leaving the outlook hanging in the balance and meaning it might be fortunate if able to avert further declines over the coming days.

The Euro to Dollar exchange rate tumbled ahead of the weekend but would likely retain an upward bias for as long as it remains above the nearby 1.08 handle and could as fall as far as 1.06 following any loss of the aforementioned level, according to TD Securities.

The Pound to Dollar exchange rate has laid siege to six-month highs in recent trading but uncertainty about this week's interest rate decisions and U.S. economic data could prevent a further recovery over the coming days.

GBP/USD has seen a setback over recent hours but technical analysts say it is too early to capitulate and call an end to the multi-week uptrend.

For Euro-Dollar, the "bigger picture" remains one of ongoing strength.