Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rallied significantly to the upside during the trading session on Tuesday, as we had reached the bottom of the overall consolidation area.

The S&P 500 did rally a bit during the trading session on Tuesday, bouncing from the 4100 level.

Gold markets initially tried to rally during the trading session on Tuesday but gave back gains as we continue to see plenty of resistance near the $1880 level.

The Dow Jones Industrial Average went back and forth during the trading session on Tuesday as we continue to see a lot of questions asked about the future direction of the market.

The Japanese yen-denominated pears all gapped higher to kick off the week on Monday, but Tuesday turned around to fall rather significantly.

The valid long-term bullish trend survives after the strong recovery from an initial fall in price.

The GBP/USD price has been in an overall downward trend after peaking at 1.2453 on January 23rd.

The BTC/USD price drifted upwards on Wednesday after the closely watched speech by Jerome Powell, the Federal Reserve chair.

The AUD/USD price wavered after the first interest rate decision of the year by the Reserve Bank of Australia (RBA) and the latest statement by Jerome Powell.

Get today's recommendation on the Lira against the dollar

At the beginning of this week's trading, the Japanese yen fell strongly against the background of the Nikkei report that the Japanese government had contacted the Deputy Governor of the Bank of Japan.

For three trading sessions in a row, the gold price was exposed to strong selling operations that affected the support level at 1862 dollars an ounce, the lowest price in a month, a rebound from the resistance level of 1959 dollars an ounce, the highest price in nine months.

The GBP/USD exchange rate gave up almost all of its January gains last week, but could now benefit from buying lower around a close group of technical support if Friday's rally in the US proves to be a response.

The EUR/USD exchange rate turned away from 10-month highs last week, leaving expectations hanging in the balance which means it may be lucky if it manages to avoid further declines over the coming days.

The Dow Jones Industrial Average declined slightly in its recent trading on the intraday levels, to record slight losses in its last sessions by -0.10%.