Forex Daily Forecast, Analysis and Prediction

The US dollar did rally against the Brazilian real on Wednesday but gave back about half the gains as we continue to see the greenback get hammered against this particular currency.

The British pound shot higher on Wednesday as we reached towards the 200-day EMA.

The euro rallied a bit on Wednesday as we continue to see the euro move higher against the US dollar.

Neo initially tried to rally on Wednesday but gave back gains rather quickly as we have fallen back towards the $20 level.

The West Texas Intermediate Crude Oil market went back and forth on Wednesday as we are dancing around just below the $90 level.

The Bitcoin market pulled back significantly on Wednesday as the market has run out of steam.

Gold markets initially sold off on Wednesday but then turned around to show signs of life again as we broke above the $1810 level.

The Ethereum market pulled back a bit on Wednesday after having a three-day rally to lift the market quite drastically.

The GBP/USD pair continued its bullish trend as the market readjusted to the upcoming interest rate decision by the Bank of England (BOE).

The EUR/USD pair continued its bullish trend as investors waited for the upcoming interest rate decision by the European Central Bank (ECB).

The AUD/USD price rally faded even after some hawkish comments by Philip Lowe, the Reserve Bank of Australia (RBA) governor.

SHIB/USD has made slight gains the past couple of days, but its trading has lacked a huge move higher even as incremental value has been added.

ETH/USD has been able to stage a move higher the past day of trading as it comes within sight of significant short- and long-term resistance.

Spot natural gas prices (CFDS ON NATURAL GAS) rose during the recent trading at the intraday levels, to achieve daily gains as of this writing by 1.28%.

The Dow Jones Industrial Average rose by 0.78% in its recent trading at the intraday levels, to achieve gains in trading on Tuesday, the first day in February.