Forex Daily Forecast, Analysis and Prediction

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The EUR/USD has seen its bearish trend grow stronger in the past week and yesterday’s burst of selling has taken the Forex pair to important lows.

The USD/JPY has turned in a strong bullish surge the past week of trading and is now challenging long-term highs as traders contemplate the exuberant trend.

The USD/INR continued to climb upwards yesterday and experienced a surge in momentum when the Forex pair raced through the 74.0000 ratio.

ETH/USD has come off lows yesterday which tested the depths of its value realm, but a bounce higher since then has not changed nervous outlooks.

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.