Forex Daily Forecast, Analysis and Prediction

The S&P 500 has pulled back a bit during the course of the trading session on Thursday to find significant support just above the 50 day EMA.

The US dollar has fallen again during the trading session on Thursday against the Canadian dollar, as we continue to pressure the $1.20 level.

The Euro has rallied a bit during the trading session on Thursday to reach towards the 1.22 handle, an area that we have seen a significant amount of resistance over the last couple of days.

The British pound has recovered nicely during the trading session on Thursday to reach towards the 1.4180 level, which of course is just below the 1.42 handle.

The Australian dollar has rallied again during the trading session on Thursday as we continue to see the 50 day EMA offer a significant amount of support.

Bitcoin markets were a bit choppy during the trading session on Thursday as Janet Yellen suggested that perhaps more stringent IRS actions may be needed against crypto markets

Gold markets initially went back and forth during the trading session on Thursday as we are trying to figure out whether or not we can continue to go higher.

In the last five trading sessions in a row, the gold price succeeded in benefiting strongly from the decline of the US dollar

We noticed a strong activity for the US dollar against the Japanese yen yesterday, as the bulls tried to break the strong downtrend of the currency pair.

The bears succeeded in testing the 1.4100 support for the GBP / USD currency pair amid selling as the US dollar recovered after the release of the US Federal Reserve meeting minutes.

We mentioned in previous analyses of the EUR / USD currency pair that the strong recent gains have pushed the technical indicators to strong overbought levels.

ADA/USD has produced absolutely astonishing robust moves which are sure to test the fortitude of the strongest speculators.

XRP/USD lost value in a swift manner yesterday; in fact, its decline needs to be looked at carefully via technical charts as a warning sign.

DOGE/USD has experienced swift trading conditions like many of the major cryptocurrencies the past couple of days and values look fragile.

ETH/USD slid further in value yesterday and momentarily traded below the 2000.00 mark, leaving speculators to contemplate technical charts and nervous sentiment.