Forex Daily Forecast, Analysis and Prediction

GBP/USD is stabilizing between the 200-day and 50-day EMAs, with 1.3350 acting as support and 1.35 as the next upside target if buyers gain momentum.

Gold remains under pressure from high US yields, with $4,600 and the 50-day EMA acting as key resistance until rates begin to ease.

EUR/USD remains pressured below the 200-day EMA as higher US yields, Fed tightness, and Europe’s energy risks favor selling rallies.

USD/CAD remains bullish as rising US rates and economic concerns in Canada support a move toward 1.39, with 1.37 acting as key support.

Bitcoin continues to hold near the 50-day EMA, with institutional ETF inflows and resilient price action supporting a potential move back toward the 200-day EMA and $84,000.

Silver is trying to bounce as interest rates ease, with a break above the 50-day EMA potentially opening a short-term move toward $79.75.

USD/MXN remains bearish as risk appetite supports the peso, with rallies toward 17.45 likely to attract sellers while 17.20 and 17.00 act as support.

USD/JPY remains bullish as dip buyers defend the 158 area, with rising yield differentials keeping the focus on a potential move toward 160.

The USD/MYR has come off its highs that it demonstrated yesterday when the 3.9800 level was penetrated higher and it now is traversing the 3.9570 ratio as the market trades.

The USD/ILS has maintained its long-term lows and as of this morning is traversing near the 2.90850 ratio depending on the bids and asks as a holiday looms in Israel.

Toncoin has regained short-term strength after bouncing from the $1.93 area and reclaiming the $2 level.

The key support level below $1.3400 held firm yesterday after multiple tests, producing an impulsive wave higher and threatening a breakout beyond $1.3462.

The EUR/USD pair wavered as crude oil prices and US bond yields pulled back amid hopes that the US and Iran will reach a deal in the coming weeks or months.

Bitcoin price was attempting to bounce back on Thursday morning as investors embraced a risk-on sentiment, and after it found a strong support at the 50-day moving average. The BTC/USD pair was trading at 77,520, up slightly from this week’s low of 76,000.

The AUD/USD pair rose slightly after the Federal Reserve published minutes of the last meeting and after Australia released weak jobs report. It rose to 0.7152, a few points above this week’s low of 0.7080.