Forex Daily Forecast, Analysis and Prediction

The British pound continues to see a bit of support in this area, as we wait for news out of the Middle East.

The German DAX rose initially on Wednesday, but as we saw on Tuesday, sellers came into the market to start selling.

Ethereum has risen during the trading session on Wednesday and while everybody is watching Bitcoin, they seem to be sleeping on this market.

The US dollar has risen against the Mexican peso on Wednesday, as interest rates in American continue to dance around the 4.3% level again.

US dollar continues to see a lot of back-and-forth behavior against the South African rand, as we are dancing around a support level that has been important.

Bitcoin has spent its time in the wilderness recently, but it is hard to ignore that it could very well be back at this point. I am a bull now.

Short-term pullbacks continue to be what I look for in this market, as the interest rates continue to favor America.

Tron (TRX) has been grinding higher inside a tight ascending channel since early March, climbing from $0.278 to a recent high near $0.325 before consolidating in the low $0.30s.

The 160.4 yen level is still an area I will be watching closely in this pair.

The biggest concern I have right now is that the interest rate markets are being driven by games being played with the headlines. Because of this, and the overextension of price, it is difficult to be aggressive.

Today's Gold Support Points: $4700 – $4640 – $4570 per ounce.

Support Levels for EUR/USD Today: 11.1690 – 1.1620 – 1.1550

Uncertainty persists as to whether and how the Iran / USA conflict might be resolved, which is leading this currency pair, as a key risk barometer, to trade sideways.

The USD/BRL closed near the 4.9669 mark on Wednesday as the currency pair held onto its lower realm, but has shown a rather consistent dance between support and resistance as financial institutions wait for Middle East clarity.

As of this morning the USD/ILS continues to trade in lower depths as it remains in sight of the 3.00000 level, and before Israeli holidays the past couple of days was able to show an ability to penetrate the mark.