Forex Daily Forecast, Analysis and Prediction

The Euro continues to see a lot of overhead pressures, as rates in the United States continue to rise. At this point, the market continues to watch the war for headlines as well.

The British pound has been grinding higher against the Swiss franc for some time now as we are trying to test the 1.06 level.

The French index fell early on Tuesday, only to bounce late. Luxury was the big savior for the session, but there are still headwinds.

The German index fell to kick off the day on Tuesday, but in the end, we still have a lot of economic headwinds and issues to chew through.

The euro continues to threaten the Swiss franc, as a minor breakout has occurred during the Tuesday session.

The market is currently struggling at this point in time, as the war headlines and interest rate movements continue to weigh upon any real gains.

The GBP/USD exchange rate rose slightly as odds of a negotiated settlement between the United States and Iran rose. It jumped to 1.3417 on Wednesday, up from the year-to-date low of 1.3220.

Bitcoin price remained above the important resistance level at $70,000 on Wednesday morning as energy prices dipped after a key statement from Donald Trump. The BTC/USD pair was trading at 70,700, up from this week's low of 67,540.

The AUD/USD pair rose slightly after the Australian Bureau of Statistics (ABS) published the latest consumer inflation report. It rose to the important resistance level at 0.7000 from this week's low of 0.6908.

The euro fell initially on Monday but bounced after Trump send out a message that the US and Iran were talking. However, the Iranians deny this.

The gold market fell hard at the beginning of the week, as bond yields jumped. However, there are conflicting reports about the Iranians and Americans talking, so volatility continues.

The market continues to move on the latest headlines, as we are simply trading on emotion at this point in time.

The NASDAQ 100 has seen a sharp reversal during the early part of the session on Monday, as tweets come out that the US and Iran are talking – only to be denied by the Iranians.

The 50-day EMA currently sits at the $3.35 level and is dropping, with the $3.50 level offering even more resistance.

The British pound has been all over the place on Monday, as noise is probably the key word here. However, the range has held, at least so far in this market.