Forex Daily Forecast, Analysis and Prediction

The gold markets initially tried to rally on Wednesday but gave back most of the gains.

The S&P 500 initially tried to rally on Wednesday to reach towards the 4660 level again.

The GBP/USD pair was little changed on Thursday morning as the market reflected on the statement by Jerome Powell and the strong economic data.

The BTC/USD tilted upwards as the market appeared to ignore the hawkish statement by the Federal Reserve chair.

The AUD/USD pair wavered on Thursday morning as the market reflected on the hawkish tone by the Federal Reserve chair and the positive numbers from the US and Australia.

Traders cannot be blamed for being nervous regarding speculative opportunities which exist via the S&P 500 as today’s trading begins.

The GBP/USD has sustained a heavy dose of nervous trading the past handful of days as financial institutions try to find equilibrium.

Yesterday's session was exciting for the gold market, as prices jumped to the level of $1809, but soon were sold off to the $1770 support level.

The GBP/USD pair's attempts to recover, which did not exceed the 1.3370 resistance level, evaporated.

Fears of the new COVID variant continue to negatively affect investor sentiment, as countries, especially European, re-imposed lockdowns and hurt the euro against the other major currencies.

The recent sell-off of the USD/JPY currency pair pushed it towards the 112.53 support level, its lowest in more than a month, but it settled around the 113.55 level after the dollar’s ​​gains from Jerome Powell’s warning that the interest rate hike may come sooner than expected.

The pair remains a key barometer of risk sentiment.

The euro went back and forth significantly on Tuesday as we continue to try and figure out where we are going next.

The CAC gapped lower to kick off the trading session on Tuesday as we continue to see a lot of panic.

The British pound initially rallied on Tuesday but then turned around to fall quite sharply as Jerome Powell struggled to keep the markets from falling apart while speaking in front of Congress.