Forex Daily Forecast, Analysis and Prediction

The bullish path of the USD/JPY stopped at the 113.80 resistance as soon as the US Federal Reserve indicated that it may abandon bond purchases in the first half of 2022 if the economic performance continues to improve.

Gold futures rose after the US government announced that US consumer prices rose more than expected.

The formation of a flag is becoming clearer for the GBP/USD, amid a neutral performance for several consecutive trading sessions.

Despite the US Dollar's gains after the high US inflation figures and the FOMC minutes, the EUR/USD couldn't get past the 1.1601 level on Thursday.

The USD/ZAR has moved lower again in early trading, extending a reversal lower which has seemingly gained momentum and created volatile conditions.

Gold jumped in late trading on Wednesday and its sudden rocket climb will get the attention of speculators who may have bullish sentiment.

The price has room to rise much higher.

The euro rallied significantly on Wednesday to wipe out the losses from a couple of previous sessions.

The West Texas Intermediate Crude Oil market rallied a bit on Wednesday after initially pulling back.

The US dollar fell again on Wednesday as the CPI numbers came out in line with expectations.

The FTSE 100 initially pulled back on Wednesday, only to turn around and show signs of strength.

The DAX rallied on Wednesday to show signs of life again.

Bitcoin markets followed a sideways pattern over the last couple of days after forming a very parabolic move.

Gold markets rallied significantly on Wednesday as we have broken through several resistance barriers in one fell swoop.

Today’s pivotal point is likely to be 1.1609.