Forex Daily Forecast, Analysis and Prediction

The British pound has been very quiet during the trading session on Wednesday as we are sitting just above the 200 day EMA.

The West Texas Intermediate Crude Oil market has initially rally during the trading session on Wednesday but has turned around to show signs of weakness again.

The USD is working against the value of certain commodities, with gold being especially sensitive to the US Dollar Index.

The US dollar has rallied a bit during the trading session on Wednesday to reach towards the 15 South African Rand level.

The Euro initially tried to rally during the trading session on Wednesday but give back the gains to turn around and threaten the 1.17 level.

The EUR/USD pair declined to the lowest level since November 2020 as Covid-19 risks remained.

The GBP/USD pair retreated during the American and Asian sessions after the latest UK inflation data and FOMC minutes.

The AUD/USD price declined to the lowest level since November last year even after Australia published strong jobs numbers.

The BTC/USD price is in a tight range as investors reflect on the recent impressive rally.

The AUD/USD has experienced additional selling momentum and stumbled towards support levels not traded since the middle of November 2020.

The USD/ZAR once again came within sight of the 15.00000 mark yesterday before seeing a slight reversal lower.

ADA/USD is trading above the 2.000000 level and this ratio could prove to be an interesting lynchpin if it is not punctured lower in the short term.

ETH/USD remains seemingly healthy and above the 3050.00.

The US dollar has rallied significantly during the trading session on Tuesday to break above the 1.36 handle.

The West Texas Intermediate Crude Oil market has pulled back just a bit on Tuesday, as it looks like we are hell-bent on testing the $65 level.