Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market initially fell during the trading session on Thursday, but then turned around to form a bit of a hammer.

There are continued gains of the dollar due to US Federal Reserve raising interest rates in addition to continued pressure on the yen.

After four consecutive trading sessions the gold price attempted to correct upwards with gains that reached the level of 1795 dollars an ounce.

The price of the GBP/USD currency pair did not suffer from testing the psychological resistance level 1.4000, as it returned to stability around the 1.3950 level at the time of writing.

Since the start of this week's trading, the EUR/USD is trying to correct upwards.

DOGE/USD has begun the day with a move higher that has produced a gap on technical charts highlighting the cryptocurrency remains volatile.

ETH/USD remains within a vulnerable lower price range and its consistent tests of support ratios is a troubling development.

The 0.7600 area looks likely to be today’s pivotal point.

The West Texas Intermediate Crude Oil market initially rallied during the trading session on Wednesday but gave back the gains as we got close to the $75 level.

The US dollar fell a bit during the trading session on Wednesday to reach down towards the 50-day EMA, but then turned around to show signs of hesitancy.

The FTSE 100 initially tried to rally during the trading session on Wednesday but gave back the gains to show signs of slight exhaustion.

The S&P 500 went back and forth during the trading session on Wednesday as it continues to reach towards the all-time highs.

The NASDAQ 100 rallied just a bit during the trading session on Wednesday as we continue to make new highs.

The support level at 1.1910 is starting to look pivotal.

Perhaps more pain is ahead for the gold bulls.