Forex Daily Forecast, Analysis and Prediction

The S&P 500 has rallied slightly during the trading session on Thursday to show signs of strength again, as we continue to see a push to the upside.

The Euro has turned around a break slightly above the shooting star from the previous session on Wednesday, as it continues to see massive inflows.

The British pound initially tried to rally during the trading session on Thursday but found the 50 day EMA to be a bit too much to get above.

The Australian dollar has rallied a bit during the course of the trading session on Thursday to reach towards the 50 day EMA above.

The gold markets have broken out above the $1750 level during the trading session on Thursday to reach towards the 50 day EMA.

Bitcoin markets have rallied a bit during the trading session on Thursday to show signs of life again.

Speculators need to continue buying the USD/ARS and take advantage of the slow-moving rocket ride higher being achieved.

The USD/BRL remains a rather consolidated Forex pair for speculators who have the ability to be patient regarding its value changes.

The USD/ZAR has maintained its bearish stance and has seen some consolidation the past couple of days as support is tested.

Gold's bullish attempts hit their limit at $1745, where the price has settled as of this writing.

Selling the pound in the Forex market has not been witnessed since December 2020.

After gains on the cusp of the 111.00 resistance, a one-year high, profit-taking pushed the USD/JPY to the support level of 109.57 before settling around 109.75 as of this writing.

The EUR/USD pair's bullish performance resulted in gains that culminated in testing the 1.1915 resistance level before settling around the 1.1870 level as of this writing.

The USD/INR has caught many speculators and financial institutions unprepared as it demonstrated a massive bullish move higher.

The pair is slightly more bullish, but AUD is no longer leading the reflation trade.