Forex Daily Forecast, Analysis and Prediction

Support near 1.2000 breaks down.

Cardano is testing a very serious level that will determine where we go next.

The DAX Index was relatively quiet during the trading session on Wednesday as we continue to hang near the 15,700 level.

The FTSE 100 did rally during the trading session initially on Wednesday to reach above the 7200 level, an area that I talked about over the last couple of days.

The West Texas Intermediate Crude Oil market rallied again during the trading session on Wednesday but pulled back a bit from the $72.50 level.

Bitcoin pulled back from the $40,000 level again, which is a bit of a concern at this point because we have made several attempts to break above that level, but it looks as if we continue to struggle.

The BTC/USD retreated after the hawkish Federal Reserve interest rate decision.

The GBP/USD pair crashed after the latest Federal Reserve interest rate decision.

For the third consecutive day, the bulls are settling at the price of the USD/JPY currency pair above the 110.00 psychological resistance.

Since the start of this important week’s trading, the price of EUR/USD currency pair has been moving in narrow, limited ranges, as we expected since the end of last week’s trading.

For four trading sessions in a row, the price of gold is moving in a downward correction range.

After the announcement of the British government to postpone the date of complete freedom from Corona restrictions until July 19, the pound weakened against the rest of the other major currencies.

Yesterday saw another record high achieved by the DAX Index as its bullish trend remains strong and clear.

The USD/MXN is hovering near the 20.00000 juncture as traders anticipate the interest decision from the U.S Federal Reserve later today.

The USD/ZAR is trading near important late May resistance levels as the Forex pair’s bearish trend is being challenged by risk-averse sentiment.