Forex Daily Forecast, Analysis and Prediction

GBP/JPY is pressing the key 216 level, where a breakout could trigger a stronger bullish move toward 220 as carry trade dynamics continue to favor the pound.

Natural gas remains weak despite Thursday’s small bounce, with seasonal demand staying soft and rallies toward $3.00 still viewed as selling opportunities.

USD/JPY continues to favor dip-buying, with 158 acting as near-term support and 160.50 remaining the critical breakout level for a much larger bullish move.

EUR/USD was rejected at the 1.18 resistance zone, with rising US yields increasing the odds of a pullback toward 1.17 or the 50-day EMA.

WTI crude oil is trying to stabilize near $93 after holding key technical support, with $95 and $100 as the next resistance levels if the rebound continues.

USD/CAD is pulling back as the Canadian dollar strengthens, with softer US yields weighing on the pair while 1.37–1.3750 remains the main resistance area.

Polkadot has rebounded sharply from $1.16, but DOT must clear the $1.28–$1.30 resistance zone to confirm that the recovery is turning into a stronger bullish move.

The 3.9540 ratio in the USD/MYR is being traversed as of this writing, this as the currency pair has responded to greater global risk appetite with a move lower showing its bearish trajectory yet again.

Improving risk sentiment on Iran deal optimism is sending stocks and risk-on assets like the Australian Dollar higher, while the USD is now weakening as inflationary pressure abates.

The NZD/USD is around the 0.59040 level with sustained momentum keeping the currency pair within the upper realm of its week’s results and mid-term loftier values in sight as optimism fuels outlook.

Bitcoin continues to be very noisy in general, as the markets are looking at institutional inflows, but also a lot of uncertainty outside of the market.

The DAX continues to see a lot of noise at the moment, with headlines and interest rates taking front and center stage.

Gold continues to move on interest rates, noise from the headlines, and simple momentum.

The NASDAQ 100 rose again in the early hours of Wednesday, as we continue to see a lot of headlines moving the markets in general.

Silver remains a very noisy place to trade at the moment, as the world continues to throw headlines at traders.