Forex Daily Forecast, Analysis and Prediction

The US dollar fell a bit on Wednesday against the Mexican peso but still remains well within the overall consolidation area.

The euro rallied significantly on Wednesday to reach towards the top of what has been a relatively well-defined trading range.

The FTSE 100 rallied again on Wednesday to reach towards the 7460 handle, an area that is at the top of the major channel that I have drawn on this chart.

The German DAX Index has rallied towards the €16,250 level, which ties in with the recent highs.

Gold markets rallied quite nicely on Wednesday, but as you can see, we saw the $1830 level hold yet again.

Silver markets went back and forth on Wednesday as we continue to hang about the 50-day EMA.

Ethereum markets dipped ever so slightly on Wednesday but continued to find buyers on dips.

The NASDAQ 100 fell rather hard on Wednesday again, as it looks like the market simply cannot quite find its footing.

The S&P 500 pulled back just a bit on Wednesday, albeit ever so slightly.

The West Texas Intermediate Crude Oil market initially pulled back on Wednesday, but then turned around to rally significantly and take out the $70 level.

The crypto sector has been exhibiting bearish signs over the past ten days.

The GBP/USD rose to the highest level since November 9th as hopes of a more hawkish Bank of England (BOE) rose.

The EUR/USD held steady even as an energy crisis in the European Union continued.

The AUD/USD pair tilted upwards in the overnight session even after the latest surge of Australian Covid-19 cases.

The price of the euro against the dollar entered 2022 with its highest levels in six weeks, but there will be a strong battle to hold above the 1.13 level if the dollar returns to rise.