Forex Daily Forecast, Analysis and Prediction

The S&P 500 saw the futures market all over the place as the Tuesday session showed a little bit of a relief rally, as the CPI numbers “were not as bad” as anticipated.

The West Texas Intermediate Crude Oil market took off to the upside on Tuesday as the uptrend line has been tested, and it has been strong enough to turn this market around.

The Australian dollar rallied significantly on Tuesday after initially dipping lower.

The DAX fell initially on Tuesday to break down below the €14,000 level, and at one point looked like it was ready to take off to the downside.

The Bitcoin market did very little on Tuesday after selling off quite drastically on Monday.

The euro has continued to drift a bit lower on Tuesday to reach the 1.0850 level.

The gold markets rallied a bit on Tuesday as we gapped higher and then went to raise above the candlestick from the previous session.

The GBP/USD remained under pressure ahead of the upcoming UK consumer and producer inflation data.

The EUR/USD pair declined sharply on Tuesday and on Wednesday morning as investors reacted to the latest US inflation data.

The BTC/USD pair continued crawled back slightly even after the strong American consumer inflation data.

At the beginning of this week's trading, the price of an ounce of gold moved towards the resistance level of 1969 dollars, the highest for the gold market in nearly a month.

Amidst a sharp upward momentum, the price of the US dollar against the Japanese yen (USD/JPY) currency pair is receiving the announcement of US inflation figures today.

The EUR/USD exchange rate entered the new week's trading near its lowest levels in several years, stable around the 1.0880 support level closest to the most important bear target 1.0800.

For two days in a row, the bears succeeded in stabilizing the price of the GBP/USD currency pair below the 1.3000 psychological support, with losses to the 1.2982 support level.

The rising cost of energy imports widened the scope of the deficit.