Forex Daily Forecast, Analysis and Prediction

The US Dollar has pulled back just a bit during the trading session on Thursday in early hours against the Japanese yen.

The euro has bounced a bit during the early hours on Thursday as we continue to try to find some type of stability.

During the Thursday session we have seen the British pound drop rather significantly against the Swiss franc and at this point in time we are reaching a major inflection point.

Bitcoin has broken above the crucial $52,000 level during the trading session on Thursday as we continue to see buyers jump into this market.

The Aussie dollar rallied early during the day on Thursday to break above the 0.65 level.

The US dollar initially tried to rally against the Canadian dollar during early trading on Thursday but has given back quite a bit of the gains.

The US dollar has fallen in early trading on Thursday against the Swiss franc as the 200 day EMA has offered significant resistance.

The Nasdaq 100 was quiet during the early hours on Thursday as we continue to search for some type of a longer term direction.

You can see gold has had a slightly positive session during the early hours on Thursday as we have retaken the $2,000 level.

The DAX rallied significantly during the trading session on Thursday, only to give back the gains.

The price of gold has been in a corrective downtrend, moving towards the support level of $1984 per ounce, its lowest point in two months.

The price of the pound sterling fell against the rest of the other major currencies.

The price of the EUR/USD currency pair is still under strong downward pressure.

The USD/JPY exchange rate continued its strong upward trend this week after the United States published strong inflation numbers for January.

The Australian dollar showed resilience during Wednesday's early trading.