Forex Daily Forecast, Analysis and Prediction

The S&P 500 fell to test key support at 6800 on Thursday, with traders eyeing a potential bounce as earnings season continues to influence sentiment.

Bitcoin plunged below $70,000 on Thursday amid rising bearish pressure, with on-chain data signaling deeper losses and a potential return to crypto winter.

The Australian dollar weakened Thursday, trading in a tight range between 0.69 and 0.71 as markets assess RBA rate outlook and China’s economic momentum.

Silver prices plunged Thursday, testing the critical $70 level as volatility surged, with traders eyeing a possible breakdown that could spark a deeper correction.

The British pound fell sharply after the BOE decision, testing the 1.35 support as USD strength and central bank uncertainty cloud near-term direction.

The NZD/USD pair remains range-bound near 0.60, with risk appetite and strong resistance at 0.61 likely to dictate the next move.

Gold remains volatile after testing $5,000, with $4,800 acting as support as traders await a decisive close to confirm the uptrend’s next phase.

EUR/USD trades quietly after the ECB holds rates steady, with traders eyeing a breakout above 1.1850 or a breakdown toward 1.16 as the next move.

The fall from last week’s spike higher seems to have slowed to nothing, as the price consolidates above $1.1775.

The US dollar has been falling against the Mexican peso for some time, but the occasional bounce continues to be a thing in this market. That was the case for Wednesday.

The New Zealand dollar has fallen on Wednesday, as we continue to see a bit of consolidation. This is a market that is trying to figure out where to go next at this point.

The FTSE 100 made a fresh high during the trading session on Wednesday, showing that there are plenty of buyers out there waiting to get involved in this index.

The Euro has really seen a bit of soft action over the last couple of days, as the ECB meeting will continue to be in the focus of traders, and the US dollar strengthening has also played a huge part.

The Euro has risen against the Japanese Yen during the trading session here on Wednesday as the interest rate differential continues to be a main driver of things. The ECB meets on Thursday, so be aware that volatility is almost certain to happen.

The NZD/USD exchange rate wavered on Thursday morning as traders focused on the latest jobs numbers from New Zealand and the United States. It was trading at 0.6000, down from the year-to-date high of 0.6090.