Forex Daily Forecast, Analysis and Prediction

We expected that the gains in the EUR/USD price would be temporary, as the price jumped towards the 1.0748 resistance level, following new tightening comments by European Central Bank Governor Lagarde.

Fed officials agreed at their meeting this month that they need to raise US interest rates by half a point in their next two meetings

Despite the attempts of an upward correction in the price of the GBP/USD currency pair, analysts warn that the pound is set for a summer of weakness against the euro, the dollar, and other major currencies.

For the second day in a row, the price of gold is exposed to selling operations with losses to the support level of $1842 an ounce and bouncing back from the resistance level of $1870 an ounce.

The Turkish lira continued its losses to become the worst performing currency during the current year.

The Dow Jones Industrial Average continued to rise during its recent trading at the intraday levels, to achieve gains for the fourth consecutive session, by 0.60%, to add 191.66 points to it.

DOT/USD has continued to fall and is traversing extremely important support levels in early trading this morning as buyers seem to have disappeared.

AVAX/USD has seen its value slide in early trading this morning, as the cryptocurrency fell through the key support and continued to stumble.

The US Dollar is likely to be the key price driver today.

The US dollar initially tried to rally on Wednesday but turned around to show signs of exhaustion.

The euro fell a bit on Wednesday as the euro ran out of momentum.

The British pound initially fell on Wednesday as the 1.26 level continues to be a massive barrier.

The S&P 500 rallied on Wednesday to reach the 4000 level.

The West Intermediate Crude Oil market did very little on Wednesday as we continue to see the market shows very little in the way of momentum.

The Ethereum market went back and forth on Wednesday as we are sitting just below the $2000 level.