Forex Daily Forecast, Analysis and Prediction

The EUR/USD price is little changed as traders wait for the latest EU inflation numbers and the FOMC decision.

The bulls need to hold the $53K area.

Medium-term consolidation pattern between 1.3800 and 1.4000.

The USD/CHF hit a high price of nearly 0.93750 briefly on the 9th of March, and since then the Forex pair has demonstrated a reversal lower.

The USD/ARS has seen its bullish trend remain intact and speculators with the capability of pursuing the upward momentum may find more opportunities.

The USD/ZAR has traded lower again as the week has begun, but a short-term battle is being waged as the Forex pair tries to establish stronger direction.

Price looks congested and hard to predict.

The support at 1.1914 could be pivotal today.

The price of gold has remained stable between the $1700 support level and the $1740 resistance level, waiting for enough momentum to move higher or resume recent downward pressure.

A continuous bullish path for the USD/JPY pair awaits more momentum to test stronger highs.

Risk-aversion is weakening the GBP/USD pair, which is moving away from the 1.4000 psychological resistance level, confirming a bearish performance and causing profit-taking.

The EUR/USD pair started trading this week under bearish pressure, stable around the 1.1925 support level as of this writing.

The pair may bounce back soon as bulls attempt to retest the all-time high.

The GBP/USD declined mostly because of the strong dollar as the US Treasury yields retreated.

The USD/INR is testing its short-term range as support continues to be targeted and is looking potentially vulnerable technically.