Forex Daily Forecast, Analysis and Prediction

The EUR/USD has drifted a little bit during the trading session on Thursday as we continue to see a lot of negativities.

The British pound has broken down during the trading session, even though the Bank of England raised interest rates.

The BTC/USD market has risen slightly during the trading session on Thursday, as we are sitting on top of the 50-Day EMA.

The price of the Turkish lira stabilized.

The Dow Jones Industrial Average slipped down during its recent trading at the intraday levels, recording losses for the third consecutive session, by -1.55%.

Spot natural gas prices (CFDS ON NATURAL GAS) settled on a rise in early trading on Wednesday, to record slight daily losses until the moment of writing this report.

I expect that the results of the US Federal Reserve meeting will have a strong reaction on the markets.

The recent downward pressures pushed the GBP/USD towards the 1.1393 support level at the time of writing.

The US dollar strengthened in the hours following another big US interest rate hike and a clear message from Bank Governor Jerome Powell that further hikes were necessary to bring down inflation.

The strong US dollar’s momentum from the Federal Reserve’s announcement yesterday contributed to the evaporation of the first rebound gains for gold XAU/USD.

The USD/TRY remains in a bullish trend which has the feeling of an impossible direction to defeat; yesterday’s slight selling pressure was met by a swift stronger reversal higher.

The USD/SGD has mirrored other major currency pairs in the past twelve hours, after a wave of selling was stopped by U.S Fed policy rhetoric and a reversal higher ensued.

The GBP/USD price rose slightly after the latest decision by the Federal Reserve.

The EUR/USD price rose after the latest Federal Open Market Committee (FOMC) interest rates.

The BTC/USD pair retreated slightly after the latest interest rate decision by the Fed.