Forex Daily Forecast, Analysis and Prediction

Get the weekly Forex forecast for major currency pairs for the week of March 03-09, 2024 here.

Crude Oil climbs above $80, upcoming market focus.

Currency pair hit high of 1.27000, fluctuated, low 1.26000, ended higher.

BTC/USD near $63K, WTI at $90; Gold, NASDAQ, USD pairs bullish.

SP 500: The Federal Reserve will face difficulties as it tries to catch up with the economy.

Natural Gas: We attempted to rally throughout Thursday's trading session but ultimately withdrew from the 20-day EMA.

Gold: Thursday's session was extremely positive despite the US PCE figures coming in as expected.

Crude Oil: I have no intention of shorting this market, so I will either wait for a breakthrough or instead buy short-term declines.

USD/MYR: The PCE numbers coming out as expected suggest that the Federal Reserve is going to be on hold and therefore will only cut 3 times this year.

There is still a lot of erratic activity in the bitcoin market, mostly on the upside.

During Thursday's trading session, the Australian dollar made an initial attempt to rise, but it later started to exhibit symptoms of weakening.

As we awaited PCE data, the US dollar is retreated early in Thursday's trading session against the Japanese yen.

After the PCE figures in the US came in as expected, silver rose rather strongly, validating the general consolidation region we have been in for a while.

The market is still consolidating, and the euro performed virtually little in the early hours of Thursday.

The NASDAQ 100 has been very resilient during the month of February, as we continue to see a lot of upward pressure.