Forex Daily Forecast, Analysis and Prediction

The British pound rallied a bit Tuesday, which should not be a huge surprise considering that the 1.32 level has been so important as of late.

The euro shot higher on Tuesday but gave back the gains to form a shooting star-like candlestick.

Gold markets gapped lower to kick off the trading session on Tuesday, but then turned around to reach towards the 200 day EMA above.

The US dollar fell rather hard on Tuesday to crash into the ₹75.50 level.

The Bitcoin market bounced significantly on Tuesday as we have used the 200-day EMA as support again.

The S&P 500 rallied significantly on Tuesday, recapturing the 50-day EMA.

The NASDAQ 100 rallied quite nicely on Tuesday, breaking above the 50 day EMA late in the session.

The West Texas Intermediate Crude Oil market rallied enough to fill the gap from the Monday session, and I am looking for signs of exhaustion that I can use to get involved to the downside.

The AUD/USD price held steady on Wednesday morning as investors reflected on the latest minutes by the Reserve Bank of Australia (RBA).

The GBP/USD moved sideways as investors reflected on the rising number of Omicron cases and the measures by the US and UK governments.

The BTC/USD price tilted higher in the overnight session as cryptocurrency prices bounced back.

Although global central banks announced as one to tighten monetary policy, including those who actually raised interest rates, at the same time, appetite for buying safe havens increased amid Omicron fears.

Since the beginning of this week, the USD/JPY has been moving in narrow ranges in the vicinity of the 113.33 level and the 113.75 level, where it has settled as of this writing.

Threats from the British government to re-impose COVID restrictions increased the pressure on the British pound in the Forex market.

The EUR/USD started the week after giving up an important level of support, leaving it at risk of a crash on the charts when low liquidity could lead to big moves heading into the holidays.