Forex Daily Forecast, Analysis and Prediction

Gold is all over the place on Wednesday, as it had tried to test the recent highs, but gave up a lot to gain as the USD suddenly found strength again.

The Australian Dollar is very weak but is unlikely to lose much more value against the US Dollar today.

The USD/JPY price rose and then retreated after the latest interest rate decision by the Bank of Japan (BoJ).

The GBP/USD price soared to the highest point since December and then pulled back as recession risks rose.

The EUR/USD pair has found a strong resistance level as concerns about a recession continued.

The GBP/USD initially rallied during the training session on Wednesday but gained back gains as the US dollar came roaring back.

The S&P 500 has pulled back against the previous shot higher and at a very important level.

The NZD/USD initially popped above the crucial 0.65 level but was smashed at that point to turn things right back around and threaten the 0.64 level.

The DAX tried to rally during the trading session on Wednesday but continues to struggle to hang on to the gain.

The CAD/CHF has broken down rather significantly during the trading session on Wednesday, breaking below the 0.68 level.

For three consecutive trading sessions, the price of the EUR/USD currency pair has been moving in a downward correction

Since the start of this week's trading, the price of the GBP/USD pair was dominated by the performance of the bulls, with gains towards the 1.2300 resistance level.

The bears' control over the direction of the USD/JPY currency pair continues.

Gold futures took some breaths as the yellow metal enjoyed a great start to the new trading year 2023.

The price of the TRY/USD stabilized during early trading this morning, Wednesday, amid the absence of data, which no longer has an impact on the movement of the Turkish currency price.