Forex Daily Forecast, Analysis and Prediction

The British pound has been aggressively bought off the forex market by investors in anticipation of the Bank of England's rate hike on Thursday, February 3.

Amidst a state of risk appetite that dominated the markets, the EUR/USD exchange rate rose to key technical resistance levels during this week's trading.

For four consecutive trading sessions, profit-taking continues for the USD/JPY currency pair, which is possible until the US job numbers are announced at the end of the week.

The price of gold was flat after a three-day advance, as investors were reacting to a drop in US corporate employment ahead of the key US jobs report, along with global geopolitical tensions.

LUNA/USD has struggled the past day and is again approaching important support levels as traders may be rather suspicious and more nervous about its value.

MATIC/USD continues to provide speculators with a sea of volatile trading and yesterday’s decline in value is a reminder sentiment can change quickly.

Bitcoin is looking weaker than Ethereum today.

The NASDAQ 100 went back and forth on Wednesday as we are starting to finally recognize that gravity is a thing.

The US dollar bounced a bit on Wednesday against the South African rand as it tested a major uptrend line.

The US dollar did rally against the Brazilian real on Wednesday but gave back about half the gains as we continue to see the greenback get hammered against this particular currency.

The British pound shot higher on Wednesday as we reached towards the 200-day EMA.

The euro rallied a bit on Wednesday as we continue to see the euro move higher against the US dollar.

Neo initially tried to rally on Wednesday but gave back gains rather quickly as we have fallen back towards the $20 level.

The West Texas Intermediate Crude Oil market went back and forth on Wednesday as we are dancing around just below the $90 level.

The Bitcoin market pulled back significantly on Wednesday as the market has run out of steam.