Forex Daily Forecast, Analysis and Prediction

USD/JPY is holding near a major ceiling around 160, with 158 acting as support and a break above 160.40 potentially opening a much bigger upside move.

EUR/USD is stuck in a tight 1.15–1.16 range, with sellers fading rallies near resistance as interest rate differentials and safety flows keep pressure on the euro.

GBP/USD is trading near the middle of its 1.3250–1.35 range, with the 200-day EMA marking fair value as short-term traders continue to play the chop.

Bitcoin is struggling to break above $72,000 as higher rates and soft risk sentiment cap gains, while $64,000 and $60,000 remain the key downside levels.

USD/CHF remains biased higher as interest rate differentials support the dollar, with traders buying dips and watching 0.80 as the next major resistance level.

Silver is struggling around the $70 level as higher interest rates and geopolitical headlines keep pressure on the metal and limit upside momentum.

Gold is struggling under the weight of rising global interest rates, with $4,600 acting as key support while rallies are likely to be sold.

WTI crude oil remains rangebound between $85 support and $100 resistance, with geopolitical headlines continuing to drive volatile price swings.

Bulls and bears are fighting for control of Bitcoin, with the price making a weakly bullish consolidation over the past few weeks.

As of trading this morning the USD/ILS is near the 3.12825 with a wide spread being demonstrated, but the currency pair is also maintaining a rather tight trajectory still within the stronger elements of the Israeli Shekel.

The NZD/USD is near the 0.57860 vicinity as of this writing, this as financial institutions clearly remain reactionary as they try to find equilibrium in what remains a stormy broad Forex market.

The GBP/USD exchange rate wavered after the UK published the latest consumer and producer inflation report. It was trading at 1.3365 on Thursday morning, inside a range it has been in the past few days.

The EUR/USD exchange rate pulled back slightly even after Christine Lagarde opened doors for interest rate hikes by the European Central Bank (ECB). It was trading at 1.1560, a few points below this week's high of 1.1630.

The AUD/USD pair continued its downtrend on Thursday as Iran and the United States took different positions on how to end the ongoing war. It dropped to 0.6940, down from this year's high of 0.7180.

The British Pound rallies again on Wednesday, as we continue to see it grind higher against the Japanese yen in a rate differential move.