Forex Daily Forecast, Analysis and Prediction

USD/CAD is slipping after stalling above 1.3850, with the 200-day EMA and 1.3750 now acting as the key downside support zone.

GBP/USD is testing the key 1.35 resistance zone, where a rejection tied to higher US yields could trigger another short-term move back toward 1.34.

The USD/MYR is trading around the 3.9850 mark, which is below highs seen early this week when the 4.0350 vicinity was being traversed

The NZD/USD is near the 0.58350 mark as of this writing with its typically wide spread and fast price action being displayed, this as the currency pair sustains gains made the past day and a half.

The shaky temporary ceasefire over Iran has pushed the price up, but it stagnates without momentum as a positive end to the war for the global economy is far from certain.

The US dollar fell against the Canadian dollar and others with the ceasefire being announced.

The Euro has been all over the place on Wednesday, as traders are looking to determine where risk is going now that a ceasefire has been declared in the Middle East.

The Euro rallied quite significantly during the trading session on Wednesday, breaking above the crucial 1.16 level and by extension the 50-day EMA. Keep in mind that it would only take a negative headline to turn things around.

The dollar has fallen against the Japanese yen as rates drop. The interest rates in the US falling would take one of the reasons for the rise of the USD out of the equation. That being said, the Japanese yen has its own issues.

The S&P 500 jumped with the announcement of the ceasefire between the United States and Iran. However, there are a lot of nerves out there, and volatility probably hasn’t disappeared quite yet.

Bitcoin markets continue to see a lot of resistance just above current levels, although it must be said that the buyers are persistent. The Bitcoin market continues to build a larger base from what I can see.

The DAX jumped early on Wednesday, as the ceasefire pushed money back into risk assets around the world.

The Euro rallied against the Japanese yen early on Wednesday, as we celebrated the two-week ceasefire, as risk appetite returned to the markets.

The US dollar plunged against the Mexican peso on Wednesday, as the ceasefire was announced. With this, the rates in the USA dropped precipitously.

The US dollar plunged at the open on Wednesday, as the ceasefire in the Middle East caused interest rates in the US to drop rapidly.