Forex Daily Forecast, Analysis and Prediction

The NZD/USD has sustained a near-term bearish trajectory which brought the currency pair to the 0.60500 level yesterday, after 0.50 interest rate cut by the Reserve Bank of New Zealand Wednesday.

The euro initially tried to rally a bit during the trading session on Wednesday and as a result sellers came in and pushed this market lower.

During my daily analysis of the USD/CHF pair, the first thing I notice is the 0.86 CHF level, which is crucial as we have seen it offer resistance multiple times.

During my daily analysis of the gold market, the first thing I see is that we continue to look at the $2600 level as a massive support level.

In my daily analysis of yen related pairs, the AUD/JPY pair continues to be one that I watch, especially as we are hanging around in a massive, large, round, psychologically significant figure in the form of the ¥100 level.

The British pound has been on a sluggish path this week, recovering its previous losses to become the best performer yesterday, Tuesday.

The USD/MYR continues to see some buying activity as behavioral sentiment has turned cautious the past week and a half in the currency pair.

Amidst selling pressure, the EUR/USD exchange rate is expected to witness further losses in the coming days and weeks, as some analysts see that a return to the 1.0780 support level is not impossible.

The Japanese yen remained weak at around 148.55 yen per US dollar on Wednesday after falling to its lowest level in seven weeks in the previous session, as investors continued to assess the Bank of Japan's monetary policy outlook.

The gold price has retreated to the support level of $2605 per ounce, its lowest in two weeks, declining for the fifth consecutive session.

The USD/ILS has managed to decline from highs on Friday and Monday, this as the currency pair began to stabilize yesterday and begin to selloff slightly.

The USD/NOK currency pair captured my attention as a search for trading opportunities in the exotic currency pairs.

The first thing I see is that we have in fact plunged.

The market had recently broken out, and now it looks like it is trying to confirm that breakout.

The Euro has rallied a little bit during the early hours on Tuesday as we continue to see the Euro try to build a bit of a base against the Swiss franc.