Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair tested a key resistance level on Wednesday as the US dollar weakened.

The recent decline in the price of the US dollar helped the gold market to rebound upwards, reaching the $1820 resistance before the settling around $1805 as of this writing.

The weakness of the Japanese yen (the traditional safe haven) allowed the USD/JPY to hold on to the gains of the recent bullish rebound to the resistance level of 114.95, the highest in a month.

The EUR/USD has maintained its recovery from November lows below the 1.12 support but has repeatedly turned away from technical resistance near the 1.1356 level.

The GBP/USD rose sharply with the rise of risk appetite in global markets.

The NASDAD achieved a solid short-term high yesterday, but began to reverse lower as nervous sentiment stirred trading results in the equity index.

The NZD/USD has seen some selling early this morning and is within sight of important short-term support, which may attract opportunistic speculative wagers.

Short-term price action is turning bearish.

The NASDAQ 100 initially tried to rally on Tuesday but gave back gains to show that there is still hesitation to go higher.

The US dollar rallied slightly on Tuesday to reach towards the ¥115 level.

The US dollar rallied a bit on Tuesday, as it looks like we are trying to climb against the Canadian dollar still.

Ethereum is back below the $4000 level after selling off somewhat hard on Tuesday.

The S&P 500 rallied initially on Tuesday to reach all-time highs yet again.

Gold markets initially shot higher on Tuesday, and after that we were getting ready to take off to much higher levels.

Bitcoin fell a bit on Tuesday, pulling back from the $51,000 level.