Forex Daily Forecast, Analysis and Prediction

The cryptocurrency market is now deep in the throes of a crypto winter, with prices collapsing as evidenced by the more than $2 trillion decline in total market cap since late October.

The price action is choppy and stuck within a quite narrow range, with an eventual bullish breakout looking a little more likely than a bearish breakdown.

The British pound rebounded after falling in early trading for Tuesday, for the third day in a row. At this point, the markets are trying to turn things around, and the daily close will be crucial.

Amazon has come under pressure following a $200 billion capital expenditure announcement during the recent earnings call, as traders chose to punish the cash burn. However, things seem to be changing.

I like gold at the moment, but we need to see if the previous resistance is going to be held as support. This might be what Tuesday was all about.

The Parisian CAC continues to be a big winner on Tuesday, as we are rotating out of luxury in Paris, into the technology sector. As the world waits for Nvidia earnings, French traders may be “front running” the potential move.

The NASDAQ 100 was positive again on Tuesday, as we continue to see a lot of back-and-forth trading in earnings season. Nvidia will be the next one to watch.

If we can break above the 90 dollars level, silver is likely to really take off to the upside.

If we could break above the 7000 level, the S&P 500 could take off to the upside for a 200 point move.

The United States dollar has rallied against the Canadian on Tuesday as we continue to see a massive “W pattern” form.

The US dollar has rallied significantly against the yen on Tuesday, as we see plenty of interest rate differential swap paid at the end of each day.

The British pound rallied on Tuesday to show strength yet again, in a pair that pays you to own it.

The USD/SGD exchange rate continued its downward trend as the US dollar weakness gained steam. It was trading at 1.2670, down sharply from last year’s high of 1.3750. It is hovering at its lowest level since September 2024.

The Brazilian real continued its strong upward trend this week, reaching its highest level since May 2024. The USD/BRL pair was trading at 5.1537 on Wednesday, much lower than last year's high of 6.3063.

The EUR/USD exchange rate remained in a tight range at the key support level at 1.1800 after the US released key macro data. It has slipped substantially from the year-to-date of 1.2095.