Forex Daily Forecast, Analysis and Prediction

The British pound initially fell during trading on Thursday but found enough support just below the 1.32 level to attract buyers.

The USD/BRL has created a short-term bearish trend since a high of nearly 5.7000 on the 6th of December, and important support levels are now in sight.

ETH/USD has seen a steady and rather incremental price recovery this week after last weekend’s decline, but trading this morning is showing signs of value erosion.

Global geopolitical tensions pushed investors to buy gold, which rose to the $1793 resistance before settling around $1783 as of this writing.

Concerns in Asia about the economic situation in China calmed a bit, leaving room for risk appetite.

Speculations that Britain would impose restrictions to contain the outbreak of the Omicron variant increased the suffering of the British pound against the other major currencies.

Amid the relatively calm state of risk aversion, the EUR/USD gained some momentum and moved to the 1.1340 level, after recent selloffs pushed the pair towards the 1.1227 support level this week.

The pair's direction is unclear ahead of tomorrow’s US inflation data release.

The NASDAQ 100 went back and forth on Wednesday as the 16,500 level continues to see a lot of resistance.

The S&P 500 rallied ever so slightly on Wednesday as we continue to see a little bit of noisy behavior right around the 4700 level.

The Australian dollar has recovered quite nicely over the last couple of days as we continue to see a massive bounce from the 0.70 level.

The West Texas Intermediate Crude Oil market rallied again on Wednesday to test the $73 level.

The British pound initially plunged lower on Wednesday to break down below the 1.32 handle.

The US dollar went back and forth on Wednesday as we are hanging around the 1.2650 handle.

The euro rallied quite significantly on Wednesday to test the 1.1350 level.