Forex Daily Forecast, Analysis and Prediction

The US Federal Reserve returned to confirm its intention to raise US interest rates starting from the next March meeting.

AVAX/USD was able to climb to short-term highs on Wednesday, but today’s price action has again seen selling become highlighted.

DOGE/USD staged a higher reversal yesterday, but was met again by headwinds and technical traders have important decisions to make short term.

The euro initially tried to rally on Wednesday but gave back gains most of the day.

The British pound initially rallied on Wednesday to break above the 1.35 handle, only to give up the gains after the Federal Reserve reiterated its interest in raising interest rates through the rest of the year.

The gold markets were very noisy on Wednesday as you would anticipate, due to the fact that it was the FOMC meeting and everything that goes along with that.

The NASDAQ 100 rallied rather significantly on Monday, giving traders hope that we were going to break out.

The S&P 500 spent most of the day going higher as traders are hoping that “Uncle Jerome” would come in and save everyone.

Ethereum rallied a bit on Wednesday as we await the FOMC meeting.

The Litecoin market rallied ever so slightly on Wednesday as we are sitting in an area that looks like it is trying to form a bottoming pattern, sitting near the $110 level.

The West Texas Intermediate Crude Oil market rallied significantly on Wednesday as we continue to see energy as one of the biggest outperformers globally.

The Bitcoin market rallied a bit on Wednesday heading towards the FOMC.

Chainlink rallied a bit on Wednesday heading into the FOMC announcement, gaining over 8%.

The FOMC put new strength into the US dollar.

The GBP/USD pair retreated sharply on Thursday morning as investors reflected on the latest interest rate decision by the Fed.