Forex Daily Forecast, Analysis and Prediction

Bitcoin fell rather significantly during the course of the trading session on Wednesday, breaking below the $35,000 level before turning around and showing signs of life again.

After hitting high water marks near the 15.61000 level on the 11th of January, the USD/ZAR has incrementally traversed lower.

The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday but gave back the gains in order to show signs of slowing down

After hitting a high of nearly 1.33330 early this week, the USD/SGD has proven capable of shaking off its reversal higher and reigniting bearish sentiment.

The Australian dollar did rally a bit during the trading session on Wednesday as it looks like we are ready to go looking towards the 0.78 handle.

The Canadian dollar strengthened against the greenback during the trading session on Wednesday as the United States dollar continues to look very soft against certain commodity currencies.

Gold markets have broken higher during the trading session on Wednesday, breaking towards the 50 day EMA.

The recovery of the US dollar did not prevent gold from achieving gains at the resistance level of $1871 as of this writing.

BTC/USD ripe for a breakout after a week of consolidation

Despite the recovery of the USD, the GBP/USD pair stabilized around the 1.3650 level during Thursday's session, after the previous session's gains from the 1.3718 resistance level.

Euro continues to grind ahead of ECB decision

With the inauguration of President Joe Biden and the end of the Trump era, which had brought unprecedented economic success to the US, the USD still received some support, though likely temporary.

Notable that AUD is not leading the “risk” currencies.

With the inauguration of US President Joe Biden, the US dollar gained some support and gains against the rest of the other major currencies.

Price hits new 2.5-year high above 1.3700