Forex Daily Forecast, Analysis and Prediction

The crude oil markets are attempting to generate enough pressure for a Friday breakout once more.

The GBP/USD exchange rate rose slightly after the relatively mixed economic numbers from the US and UK.

The EUR/USD rose slightly on Monday.

Bitcoin price continued its strong performance during the weekend.

A break above $0.6534 area would be a bullish sign.

Get the weekly Forex forecast for major currency pairs for the week of March 03-09, 2024 here.

Crude Oil climbs above $80, upcoming market focus.

Currency pair hit high of 1.27000, fluctuated, low 1.26000, ended higher.

BTC/USD near $63K, WTI at $90; Gold, NASDAQ, USD pairs bullish.

SP 500: The Federal Reserve will face difficulties as it tries to catch up with the economy.

Natural Gas: We attempted to rally throughout Thursday's trading session but ultimately withdrew from the 20-day EMA.

Gold: Thursday's session was extremely positive despite the US PCE figures coming in as expected.

Crude Oil: I have no intention of shorting this market, so I will either wait for a breakthrough or instead buy short-term declines.

USD/MYR: The PCE numbers coming out as expected suggest that the Federal Reserve is going to be on hold and therefore will only cut 3 times this year.

There is still a lot of erratic activity in the bitcoin market, mostly on the upside.