Forex Daily Forecast, Analysis and Prediction

The silver market rallied quite significantly on Wednesday, exploding to the upside as the US dollar got hammered.

The US dollar initially tried to rally on Wednesday, but as you can see, for the last three days in a row we have seen any rally squashed as the greenback is getting beaten up by most currencies.

The NASDAQ 100 rallied a bit on Wednesday as traders breathed a sigh of relief when CPI numbers came in as anticipated.

The S&P 500 rallied a bit on Wednesday as inflation came out as anticipated on the CPI numbers.

Bitcoin recovered quite nicely on Wednesday, gaining a little over 5% as the bottom looks to be trying to hold.

The Ethereum market rallied significantly on Wednesday to break up and away from the 200-day EMA in what is a very bullish sign.

Litecoin rallied significantly on Wednesday, gaining almost 6% at the time of writing.

The British pound rallied rather significantly on Wednesday as we continue to break out to the upside.

The euro has finally broken out against the US dollar, cleanly wiping out the 50-day EMA and even breaking above the 1.14 handle.

The GBP/USD pair held steady on Thursday morning as investors reacted to the latest American consumer inflation data.

The BTC/USD price continued its cautious recovery as investors predicted that the rising inflation in the United States may have peaked.

The AUD/USD price jumped to a key resistance level as the US dollar sold off following the strong American inflation data.

The control of the bulls is getting stronger on the price performance of the GBP/USD currency pair.

There is no doubt that the recent decline of the US dollar allowed the price of an ounce of gold to continue recording its gains for the third consecutive session.

For the sixth day in a row, the price of the US dollar against the Japanese yen (USD/JPY) currency pair is moving amid a downward correction.