Forex Daily Forecast, Analysis and Prediction

The US dollar fell towards the ₹74.38 level on Wednesday in order to test the 200 day EMA.

The West Texas Intermediate Crude Oil market gapped higher to kick off the trading session on Wednesday but then turned around to fill the gap.

Ethereum fell initially on Wednesday to reach down towards that 3000 region yet again.

The Solana market fell a bit on Wednesday, but it has been relatively quiet.

The crypto sector continues to show bearish signs, but bulls still fight.

The GBP/USD pair drifted upwards after the latest UK inflation data and after the government announced plans to ease Covid restrictions.

The EUR/USD pair attempted to stage a comeback as US bond yields retreated.

The AUD/USD pair bounced back in the overnight session as the US dollar retreated.

For the fourth day in a row, the price of the EUR/USD currency pair is moving amid a bearish correction that was launched towards the support level 1.1315.

There is no doubt that the return of the US dollar’s recovery is an important factor to stop the pace of the recent gains in the price of an ounce of gold.

After three consecutive trading sessions during which the USD/JPY price attempted to recover, the pace of gains stopped around the 115.05 resistance level.

Since the start of trading this week, the US dollar has been trying to compensate for its recent losses against the rest of the other major currencies.

XRP/USD continues to hover near important lows after reversing higher and eventually running into strong headwinds on the 14th and 15th of January.

ETH/USD is challenging short-term support, and nervous sentiment has found little reason to suddenly become optimistic via speculative trends.

The euro is a relatively weak currency.