Forex Daily Forecast, Analysis and Prediction

The euro initially pulled back just a bit on Wednesday but then turned around to show signs of life again.

The price is in a symmetrical bullish ascending price channel.

The GBP/USD price jumped to the highest level since September 16 as investors focused on the relatively weak US dollar.

The BTC/USD pair maintained its bullish trend in the overnight session as investors cheered the rising inflows into the new futures ETF and the relatively weaker US dollar.

The USD/ZAR has continued to move in a downwards slope and has achieved one-month lows yesterday and early today.

XRP/USD has held onto a rather stiff consolidated path the past few days of trading and has begun to signal it is a potential speculative buying opportunity.

The bulls succeeded in pushing the price of gold towards the $1785 resistance yesterday, then retreating towards the $1767 support at the beginning of trading today before settling around $1776 as of this writing.

Risk appetite is not in favor of the safe-haven Japanese yen, which experienced sharp losses against the other major currencies.

At a good and steady pace, the GBP/USD is moving in a correctional range, hitting the 1.3834 resistance before settling around 1.3785 as of this writing.

The EUR/USD has been in a cautious bullish correction range, moving towards the 1.1670 resistance before settling around 1.1640 as of this writing.

ADA/USD has continued to produce a rather demonstrative bearish trend, even as many other major counterparts have started to become optimistic again.

ETH/USD has sustained one-month highs in the past two days of trading, and the incremental pressure downward seen until last week appears to have disappeared momentarily.

Big round number at 115.00 overhead.

Short-term volatility is likely between $1.3750 and $1.3850.

The euro rallied significantly on Tuesday to reach towards the 1.1650 level before rolling over and showing signs of exhaustion.