Forex Daily Forecast, Analysis and Prediction

Get the weekly Forex forecast for major currency pairs for the week of January 29- February 02, 2024 here.

Traders of WTI Crude Oil saw volatile trading develop on Friday as the commodity spiked from an intraday low of nearly 76.050 and suddenly jumped upwards challenging the 78.200 ratio.

The EUR/USD started January’s trading above the 1.10350 level, which was on the 2nd of January and since this day the currency pair has eroded in value.

Get the weekly Forex forecast for major currency pairs for the week of January-February 29-02, 2024 here.

The DAX initially pulled back just a bit during the training session on Thursday, but he continues to see a lot of strength as we have turned around to rally.

The US dollar has rallied early on Thursday against the Swiss franc to reach the crucial 50-Day EMA indicator.

The US dollar has gone back and forth during the trading session on Thursday as we are hanging around the crucial ¥147.33 level.

Bitcoin has had a rather quiet session on Thursday as we continue to hang around the crucial $40,000 level.

The US dollar has been back and forth against the Canadian dollar during the trading session on Thursday, as we continue to hang around the 1.35 level.

It looks to me like the crude oil market is starting to really take off and at this point you have to look at it through the prism of a short-term move to the 200-day EMA.

The Euro initially tried to rally during the session on Thursday but has given back the gains at least a bit.

Gold has initially fell a bit during the trading session here on Thursday, but then turned around to show signs of life again.

The NASDAQ 100 rallied early during the trading session on Thursday again, as we continue to see a huge push higher.

The S&P 500 rallied a bit early during the trading session here on Thursday, as we continue to see a lot of upward pressure.

Before wild bets on downside are placed by traders they should consider what they are up against today and tomorrow.