Forex Daily Forecast, Analysis and Prediction

The Federal Reserve’s determination to move towards tightening its monetary policy still supports the US dollar against the rest of the other major currencies.

The GBP/USD continues to collapse, with its losses reaching 1.3411 support level, the lowest since the end of 2020.

Wednesday's session was particularly bearish for the EUR/USD, which fell to the 1.1589 support level from the 1.1690 resistance in the same session.

The S&P 500 rallied a bit on Wednesday to show signs of life at a previous uptrend line.

The euro broke down significantly on Wednesday to reach towards 1.16 level underneath.

The British pound sold off quite drastically for the second day in a row, slicing through the 1.35 handle.

The West Texas Intermediate Crude Oil market initially dipped a bit on Wednesday but then turned around to rip into the $75 level.

The NASDAQ 100 rallied initially on Wednesday but gave back early gains as the support line seems to be holding so far.

The 0.7218/23 area is looking likely to be today’s pivotal zone.

The price is likely to fall today after yesterday’s strong fall with high volatility.

The Australian dollar initially tried to rally on Wednesday but gave back the gains in order to turn around and crash through the 0.72 handle.

The FTSE 100 rallied a bit on Wednesday to break above the 7000 handle.

The CAC Index gapped a bit higher to kick off the trading session on Wednesday but gave back those gains to turn around and form a shooting star.

The Bitcoin market rallied just a bit on Wednesday but gave back the gains to drift towards the $41,300 level again.

Gold markets initially rallied on Wednesday but gave back quite a bit of the gains and then started to fall apart from there.