Forex Daily Forecast, Analysis and Prediction

Gold markets rallied a bit on Wednesday as we continue to see this market grind back and forth.

The West Texas Intermediate Crude Oil market broke much higher on Wednesday as we are clear of the 50-day EMA.

The US dollar pulled back a bit on Wednesday to reach down towards the 1.29 level.

The S&P 500 initially rallied on Wednesday, but the stronger than anticipated CPI numbers had a lot of volatility entering the market.

The British pound initially tried to rally but found enough resistance at the 1.24 level to turn things around and start selling off again.

The euro went back and forth on Wednesday as the 1.05 level continues to offer a lot of support.

The BTC/USD crashed below the support at 30,000 as demand for cryptocurrencies waned.

The GBP/USD pair is in a consolidation phase after the better-than-expected US inflation data and ahead of the UK GDP numbers.

The AUD/USD pair moved sideways as investors assess the current market conditions as data point to peaking inflation.

For the second week in a row, the price of the EUR/USD currency pair is moving in narrow ranges.

Gold prices continued to decline, losses of the yellow metal this week, and reached the support level of $ 1832 for an ounce, the lowest in three months.

The stability around the highest levels in 20 years still characterizes the performance of the currency pair USD/JPY characterizes the performance of the currency pair for two consecutive weeks.

For four consecutive trading sessions, the price of the GBP/USD currency pair is stabilizing amid a strong and sharp bearish momentum that pushed it towards its lowest level in two years.

The Turkish lira fell by about half a percent during trading today, Wednesday, as the US dollar continued to rise due to the pressures caused by inflation on the local currency price.

Spot natural gas prices (CFDS ON NATURAL GAS) rose in their recent trading at the intraday levels, to achieve new daily gains until the moment of writing this report, by 1.98%.