Forex Daily Forecast, Analysis and Prediction

The euro is holding up quite well in current fearful market environment.

After reaching a high of nearly 21.51000 in early trading yesterday, the USD/MXN has resumed its short-term momentum lower and is testing support.

The USD/ZAR has been choppy as financial institutions try to find equilibrium values, and this has created opportunities for short-term speculators.

The West Texas Intermediate Crude Oil market rallied a bit on Wednesday but gave back all of those gains as Jerome Powell did not walk back his inflation comments.

The NASDAQ 100 initially tried to rally on Wednesday but gave back the gains to crash back down towards the lows of the previous couple of days.

The FTSE 100 rallied significantly on Wednesday to break above the highs from the Tuesday candlestick.

The DAX initially rallied on Wednesday, but as you can see, we have struggled to get above the €15,500 level.

The euro went back and forth on Wednesday as we continue to respect the previous trend line that was part of the descending channel.

The British pound initially shot higher on Wednesday but gave back the gains rather quickly as Jerome Powell has not changed much of his demeanor.

Bitcoin markets rallied on Wednesday to show signs of consolidation yet again, as we sit just below the crucial and structurally important $60,000 level.

The Australian dollar initially rallied on Wednesday but gave back gains to form an inverted hammer in an area that looks a lot like a base being formed.

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.