Forex Daily Forecast, Analysis and Prediction

The USD/TRY pair continued its movement in a limited range with the pair stabilizing throughout this week.

USD/JPY remains stable around the 156.78 resistance level as of writing.

Sterling rose to $1.275 yesterday, its strongest level in about two months, after a higher-than-expected UK inflation reading reduced bets on a Bank of England rate cut.

For the second day in a row, the EUR/USD has given up its recent gains, which reached the 1.0885 resistance level at the beginning of trading this week.

Gold futures fell in the middle of trading this week after some Federal Reserve officials indicated that the central bank could raise interest rates if economic data requires further tightening.

At this point it looks like the euro is testing a major support level against the British pound in the form of the 0.85 level.

The New Zealand dollar has been very noisy during the trading session on Wednesday, initially breaking out to the outside and testing the 0.6150 level but has turned around to fall rather hard.

The U.S. dollar has fallen somewhat significant in the early hours against the Canadian dollar, but then turn around to show signs of life.

The euro plunged initially during the trading session on Wednesday against the Kiwi dollar but turned around to show signs of life again.

The Aussie dollar initially tried to rally a little bit during the trading session on Wednesday, but then turned around to show signs of weakness again.

Yet bearish triple top at $71,600.

The currency pair has maintained a tight price over the past week, in fact the past month has also produced a choke hold on action in the USD/PKR.

The USD/ILS continues to correlate to the USD rather well.

The US dollar fell a bit during the trading session on Wednesday, as we continue to see a lot of noise near the ₹83.25 level.

The US dollar has rallied a bit against the Japanese yen during the early hours on Wednesday.