Forex Daily Forecast, Analysis and Prediction

The S&P 500 spent most of the day going higher as traders are hoping that “Uncle Jerome” would come in and save everyone.

Ethereum rallied a bit on Wednesday as we await the FOMC meeting.

The Litecoin market rallied ever so slightly on Wednesday as we are sitting in an area that looks like it is trying to form a bottoming pattern, sitting near the $110 level.

The West Texas Intermediate Crude Oil market rallied significantly on Wednesday as we continue to see energy as one of the biggest outperformers globally.

The Bitcoin market rallied a bit on Wednesday heading towards the FOMC.

Chainlink rallied a bit on Wednesday heading into the FOMC announcement, gaining over 8%.

The FOMC put new strength into the US dollar.

The GBP/USD pair retreated sharply on Thursday morning as investors reflected on the latest interest rate decision by the Fed.

The BTC/USD pair retreated in the overnight session as investors reflected on the latest Federal Reserve interest rate decision.

The AUD/USD pair declined to the lowest level since December 2021 after the Fed interest rate decision.

The British pound is recovering from its recent losses and may rise in the short term if the global stock market crash ends.

The recent sale of the US dollar against the Japanese yen (USD/JPY) stopped at the 113.46 support level, the lowest in a month.

The collapse of global stock markets, military tensions between Russia and Ukraine, and skirmishes in the Middle East are factors that supported the price of gold in the upward movement.

It is normal for the price of EUR/USD to move amid a downward momentum ahead of the most important event for global financial markets.

DOT/USD has been able to create a slight reversal higher the last day of trading, but it remains within sight of important support levels which may fuel nervous sentiment.