Forex Daily Forecast, Analysis and Prediction

The Australian dollar has recovered quite nicely over the last couple of days as we continue to see a massive bounce from the 0.70 level.

The West Texas Intermediate Crude Oil market rallied again on Wednesday to test the $73 level.

The British pound initially plunged lower on Wednesday to break down below the 1.32 handle.

The US dollar went back and forth on Wednesday as we are hanging around the 1.2650 handle.

The euro rallied quite significantly on Wednesday to test the 1.1350 level.

The Bitcoin market dipped ever so slightly on Wednesday but found support underneath to turn things back around.

Gold markets rallied initially on Wednesday but gave back the gains at the previous uptrend line.

The DAX Index rallied a bit to kick off the day on Wednesday but gave back gains rather quickly.

The GBP/USD pair crashed to the lowest level in more than a year as the number of Covid-19 rose in the UK and as investors braced for strong US inflation numbers.

The BTC/USD pair declined slightly as investors refocused on the upcoming US inflation data.

The AUD/USD pair rally fizzled out as focus shifted to the upcoming US inflation data scheduled for Friday.

The USD/ZAR has moved lower in the past day of trading, as its short-term range has shown some consolidation and drifted towards support levels.

SOL/USD has seen a whirlwind of fast trading recently, including a swift drop in value when the wide ranging flash crash hit cryptocurrencies the past weekend.

A temporary halt to the gains of the US dollar allowed the price of gold to stabilize around the $1791 resistance as of this writing.

Since the start of this week's trading, the USD/JPY has been moving within attempts to rebound upwards, reach the 113.78 resistance and settling around 113.50 as of this writing.