Forex Daily Forecast, Analysis and Prediction

After several attempts to stand firm, the price of the GBP/USD currency pair fell to the support level 1.3485 at the time of writing the analysis.

Expanding the scope of Russian military operations means that the invasion of Ukraine is very likely, and thus the suffering of the euro has increased in the Forex market.

Despite the importance of announcing the results of US economic data today, the markets are reacting strongly to the developments in Europe.

ETH/USD has been hit by a strong wave of selling pressure overnight as nervous sentiment has gripped global speculative assets firmly.

Bitcoin continues to approach long-term lows near $30k.

The Monero market tried to rally a bit during the course of the trading session on Wednesday as the $150 level continues to see quite a bit of support around it.

ZCash has rallied ever so slightly during the trading session on Wednesday as we continue to pay close attention to the $100 level.

The British pound has tried to rally during most of the month of February but continues to find quite a bit of resistance above.

The euro has had a rather tough month of February, as concerns about war on the Ukrainian border have caused a flight to safety.

Gold markets have exploded to the upside during the month of February as global geopolitical risks continue to capture the headlines, right along with inflationary headwinds.

Gold markets have fallen initially during the course of the trading session on Wednesday to show signs of weakness.

The US dollar initially tried to rally on Wednesday but gave back a little bit of the gains to hang about the ¥115 level.

The West Texas Intermediate Crude Oil market has gone back and forth during the course of the trading session on Wednesday.

The euro rallied a bit on Wednesday to reach towards the 50-day EMA yet again.

The DAX initially tried to rally on Wednesday to reach towards the €15,000 level.