Forex Daily Forecast, Analysis and Prediction

After trading near a value of 278.4860 yesterday the USD/PKR moved to a depth of nearly 278.0000 briefly as the U.S Federal Reserve held its interest rate policy in place.

The German DAX has been slightly positive during early hours on Wednesday as most of the trading world seems to be focusing on what the Federal Reserve has to say later in the day.

The British pound has continued its drive higher against the Japanese yen.

The euro drifted a little bit lower during the trading session on Wednesday as we waited for the Federal Reserve.

The euro initially tried to rally during the training session on Wednesday but gave up gains near the crucial 50-Day EMA.

This is a pair that you’re going to be watching tomorrow, due to the fact that both the Bank of England and the Swiss National Bank Interest rate decisions.

Resistance at $0.6633 will be a serious test for bulls.

Gold markets have gone back and forth early during the trading session on Wednesday as we wait for the Federal Reserve.

Bitcoin has pulled back a little bit to kick off the trading session on Wednesday but seems to be finding significant support just above the crucial $60,000 level.

The GBP/USD pair reacted mildly to Wednesday’s UK inflation data and Federal Reserve interest rate decision.

The EUR/USD pair popped sharply as traders embraced a risk-on sentiment after the Federal Reserve decision.

Bitcoin price remained under pressure on Thursday morning as the market reacted to the second Fed decision of the year.

The EUR/USD currency pair is likely to remain under downward pressure and trade in narrow ranges until the reaction of markets and investors to important events and economic data this week led by the US Federal Reserve announcement.

Ahead of important events and data, the GBP/USD currency pair is under selling pressure.

The USD/JPY currency pair moved after the Bank of Japan announced that it would raise Japanese interest rates and finally abandon negative interest rates.