Forex Daily Forecast, Analysis and Prediction

The euro fell for the third day in a row against the US dollar as traders reacted to rising volatility, shifting rates, and geopolitical uncertainty.

The Australian dollar remains stuck in a narrow range as global risk appetite, China’s economy, and future Fed rate cuts drive market uncertainty.

Crude oil continues to form a basing pattern above long-term support between $65 and $67, with signs of shallower pullbacks suggesting increasing bullish pressure.

AUD/USD has fallen for four consecutive days, pressured by weak Australian employment data and rising expectations of an RBA rate cut.

GBP/USD fell from its 2024 high of 1.3015 to 1.2915 after central bank rate holds and rising stagflation concerns.

EUR/USD has pulled back from its recent high of 1.0950, forming a double-top pattern and testing the 61.8% Fibonacci level.

The GBP/USD went into this weekend near the 1.29114 ratio, finishing trading essentially where last Monday’s transactions began, this after the currency pair touched a high on Wednesday that traversed value last seen in the first week of November 2024.

Stock markets have shown some recovery over the past week, despite the ongoing US-centric trade war, while metals like Gold and Copper have continued to reach new long-term highs before turning lower at the end of the week.

WTI Crude Oil finished above the 68.000 level going into this weekend, the last time the commodity went into a weekend above current prices was the last week of February.

AUD/USD tests 0.64, Gold may pull back, Dow hits 42K. Bitcoin rangebound. Full weekly Forex outlook for 23/03/2025.

The S&P 500 showed choppy trading on Thursday as market uncertainty persists, with the 200-day EMA acting as strong resistance.

The FTSE 100 maintained stability on Thursday, holding near 8700 despite a surprisingly hawkish Bank of England vote.

The USD/CAD pair saw early gains on Thursday but failed to hold them, reflecting continued volatility driven by trade tensions and economic uncertainty.

Ethereum fell sharply on Thursday, erasing Wednesday’s gains and reinforcing its bearish trend.

The British pound rebounded strongly against the yen after testing support at the 50-day and 200-day EMAs.