Forex Daily Forecast, Analysis and Prediction

The S&P 500 did very little Wednesday, and considering how rough the selloff was on Tuesday, one has to look at that as a bit of a moral victory.

The USD/INR appears set to start the month of July near record values, as price velocity and an upwards climb have proven that resistance is vulnerable.

The BTC/USD pair retreated as the fear and greed index and American shares pulled back. Bitcoin is trading at the important support level of $20,000.

The GBP/USD price dropped sharply during the overnight session as the US dollar strength continued and the outlook of the UK economy dimmed.

The EUR/USD declined sharply as the ongoing euro sell-off gathered momentum.

Spot natural gas prices (CFDS ON NATURAL GAS) rose in their recent trading at the intraday levels, to achieve daily gains until the moment of writing this report, by 2.02%.

The Dow Jones Industrial Average declined during its recent trading at the intraday levels, to record sharp losses in its last sessions, by -1.56%.

The European Central Bank appears ready to start its interest rate raising cycle with a bold 50 basis point increase, according to recent statements from some of the bank's monetary policy officials.

With the return of the strength of the US dollar, XAU/USD gold prices were subjected to quick selling operations.

The lira fell during early Wednesday trading, as it is set to lose nearly half of its gains recorded since the end of last week.

Before the announcement of the growth rate of the US economy, which is an important statement about the expectations of raising US interest rates

We recommend a lot to sell the sterling-dollar pair from every rising level.

SHIB/USD apparently attracted a healthy amount of speculative fuel the past ten days and reached a solid short term high on the 26th of June.

Gold markets at the end of June are sitting at a very interesting level, as it looks like we are trying to test a major uptrend line.

The euro continues to look very lackluster as the month of June continues to see sellers jump in every time the market tries to break above the 1.06 level.