Forex Daily Forecast, Analysis and Prediction

The Euro has rallied to slightly during the early hours on Wednesday but gave back early gains as we hit the 50-Day EMA.

On Wednesday, the British pound experienced a slight pullback from its upward trend on Tuesday.

During Wednesday's trading session, the Euro traded in a range, hovering just above the 1.06 level.

The USD/CAD is trading near the 1.35300 ratio with swift price action early this morning.

The West Texas Intermediate Crude Oil market experienced back and forth movement, remaining in the middle of a larger consolidation area.

Traders who have pursued the USD/SGD the past few weeks have certainly had their technical perceptions tested.

During Wednesday's trading session, the British pound experienced a slight pullback, with significant volatility in the market.

The GBP/USD pair retreated after the FOMC minutes showed that the Fed was committed to implementing more rate hikes.

The EUR/USD continued its bearish trend after the Fed minutes confirmed the fear in Wall Street about the interest rate hike trajectory.

Bitcoin has struggled to retest the year-to-date high of $25,266, which it tested on Sunday.

During Wednesday's trading session, the Australian dollar experienced a slight pullback and continues to test the 0.68 level.

My previous signal on 15th February was not triggered as the bullish price action took place below the support level which I had identified at $0.6886.

The strongest tendency for the performance of the XAU/USD gold price is still bearish, as the bears moved prices toward the support level of $1831 an ounce yesterday.

Increasing expectations about the future of raising US interest rates helped the bulls of the USD/JPY currency pair to move toward the 135.22 resistance level yesterday.

During yesterday's trading session, the GBP/USD price got positive momentum from the British economic numbers.