Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rallied significantly on Wednesday to reach towards the $72.25 level.

The British pound shot straight up in the air on Wednesday to reach towards the 1.3350 level.

The euro rallied a bit on Wednesday to reach the top of the overall consolidation area that I have marked on the chart.

Dollar weakness is pushing the price up.

The AUD/USD pair continued its comeback as the risk-on sentiment returned in the market.

The EUR/USD pair held steady after a new report about the Omicron variant emerged.

The BTC/USD moved sideways on Thursday morning as volume remained relatively low ahead of the Christmas holiday.

Gold prices failed to maintain their recent gains, reaching the resistance level of $1815, then selling off to the support level of $1785, where it has settled as of this writing.

For the second day in a row, the USD/JPY is moving with bullish momentum, reaching the resistance level of 114.20, where it has settled as of this writing.

After a strong bearish start for the GBP/USD when it moved towards the 1.3173 support level, the pair returned to rebound upwards towards the 1.3270 resistance level.

There is nothing new about the weak euro, as the European pandemic restrictions may weaken the economic activity of the bloc, and thus appetite for the euro.

XRP/USD has reversed higher the past two days of trading and has sustained its short-term upwards momentum early this morning.

The USD/ZAR has rebounded from early lows and has broken short-term technical resistance as it trades near a high, but the Forex pair remains in a known range.

There is low volatility but a valid long-term trend.

The US dollar fell rather hard against the Norwegian krone on Tuesday as we are approaching the 8.93 handle.