Forex Daily Forecast, Analysis and Prediction

The German DAX Index rallied initially on Wednesday to reach towards the 50-day EMA and the downtrend line that you see on the chart.

Stellar had a slightly positive session on Wednesday, but nothing that I would write home about.

Ethereum rallied a bit early on Wednesday, only to turn around and give up all the gains as the 200-day EMA continues to be a technical issue for the market.

Bitcoin markets initially tried to rally on Wednesday but gave up gains above the 50-day EMA.

Gold markets rallied on Wednesday to threaten a major breakout once again.

The GBP/USD pair rose in the overnight session as investors reacted to the latest UK inflation and US retail sales data and the latest Fed minutes.

The EUR/USD pair tilted upwards as investors embraced the risk-off sentiment again on Ukraine.

The BTC/USD price retreated in the overnight session as worries of Russia’s invasion of Ukraine rose.

Prices continued their sharply upward trend as the possibility of cold weather increased in early March.

Global fears of the consequences of a Russian military action in Ukraine increased the demand of investors to buy safe havens, gold, most notably.

The Dow Jones Industrial Average rose in its recent trading at the intraday levels to achieve gains in its last sessions by 1.22%.

All US dollar pairs will carefully monitor the reaction of markets and investors to what will be contained in the minutes of the last meeting of the US Federal Reserve.

The Turkish lira fell slightly against the dollar during yesterday's trading.

The sterling did not suffer sharp losses due to the anxiety on the Russian-Ukrainian border.

Attempts of the EUR/USD currency pair compensated for its recent losses, which pushed it towards the 1.1280 support level.