Forex Daily Forecast, Analysis and Prediction

The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.

The Japanese yen appears to be at the mercy of US inflation expectations, which means that current selling is likely to stop unless expectations of US interest rate hikes persist.

The USD/MXN has traversed lower again and is within sight of an important support juncture as its short-term bearish momentum has proven to be strong.

XRP/USD gained yesterday with a rather robust amount of velocity as it nearly hit the 1.16500 mark before reversing slightly downwards.

The ETH/USD rocket ship has found and used a higher gear in the past day, climbing past the 4000.00 juncture and seemingly waving farewell to gravity.

Bearish retracement within a strong bullish trend.

The West Texas Intermediate Crude Oil market fell significantly to kick off Wednesday, as traders were looking to work off some of the massive gains.

The US dollar fell again against the Canadian dollar as the oil inventory numbers came out much more bullish than anticipated.

The CAC 40 Index pulled back ever so slightly on Wednesday, only to find buyers to push it back above the 6700 level.

The S&P 500 rallied ever so slightly on Wednesday, as we continue to reach towards the all-time highs.

The NASDAQ 100 struggled on Wednesday as we continue to see a bullish move, but are trying to digest the most recent gains.

Gold markets rallied a bit on Wednesday as we continue to see the markets reach towards the massive downtrend line as well as the 200-day EMA.

The Australian dollar rallied significantly on Wednesday again, breaking above the psychologically and structurally important 0.75 handle.

The Bitcoin market rallied significantly on Wednesday to reach above the $66,000 level.

The British pound pulled back a bit on Wednesday to show signs of weakness and find buyers.