Forex Daily Forecast, Analysis and Prediction

Ethereum rallied somewhat significantly during the trading session on Wednesday as the market gained 7%, reaching towards the $2800 level.

Gold should be interesting to trade as it will probably either continue to rise in line with its long-term bullish momentum and ascending price channel or break down quite dramatically with a sharp fall.

The gold markets initially fell during the trading session to drop below the $1900 level, only to turn around and rally again.

Both currencies are relatively strong.

The GBP/USD price was little changed in the overnight session as investors’ attention turned to the upcoming employment numbers from the United States.

The BTC/USD pair is in a tight range as the consolidation in the cryptocurrencies continues.

DOT/USD has produced a slight bullish run the past day and is now within sight of important short-term resistance levels.

The USD/ARS continues to strain and inch higher as its long-term bullish trend remains intact for speculators able to wager.

The USD/BRL produced a spike downwards yesterday which may have caught some speculators by surprise.

In early trading this morning, the USD/SGD has provided a small reversal higher, which may prove to be a trading opportunity for bearish speculators.

Gold is still in a bullish trend, although it is starting to look somewhat shaky.

The market is looking a bit confused, and therefore a bit stagnant.

The euro initially tried to rally during the trading session on Tuesday but has failed again at the 1.2250 level.

At this point, the market looks as if it simply does not have the will to break out.

This could be a miserable week if you are looking for a bigger move.