Forex Daily Forecast, Analysis and Prediction

The euro tried to rally a bit during the trading session on Wednesday but gave back the early gains to show a less-than-exciting candlestick.

The BTC/USD price erased some of its earlier gains as investors started to take profit.

The GBP/USD rally continued after the US released a relatively weak Consumer Price Index (CPI) yesterday.

Bullish breakout beyond 0.7750 remains possible.

To be bullish here, we really need to see the 1.2154 resistance level decisively broken.

The USD/ZAR has seen support levels crumble the past two days and in early morning trading bearish momentum has increased.

The Swedish Krona is likely sparking bearish perceptions within plenty of speculators again as an important price range tests support levels.

The USD/BRL remains locked within a tight range which continues to lack a strong trend which may be helping short term speculators.

The British pound initially pulled back a bit during the trading session on Tuesday but then shot straight up in the air to finally break above the crucial 1.3750 level.

The FTSE 100 fluctuated during the trading session on Tuesday as we continue to see plenty of choppiness right around the 50-day EMA.

The West Texas Intermediate Crude Oil market pulled back significantly during the trading session on Tuesday, but found plenty of support underneath to form a hammer-shaped candlestick.

The S&P 500 pulled back just a bit during the trading session on Tuesday but continues to find buyers on dips.

NASDAQ traders continue to be bullish and see reasons to buy the market.

The euro rallied to break above the previous uptrend line, which should have in theory offered a significant amount of resistance.

The DAX Index initially dipped during the trading session on Tuesday but found enough support underneath the 14,000 level to turn things around.