Forex Daily Forecast, Analysis and Prediction

The bearish move driven by the Middle East war continues, but there are initial signs that the price is finding support at $0.6834 which could lead to a bullish breakout above the channel.

The US dollar has rallied against its northern neighbor on Monday, as the rate differential continues to favor this move. However, are we a bit overdone at the moment?

The Euro initially tried to bounce back a bit on Monday, as we continue to see rates in the United States cause havoc. With this, we are looking at a “fade the rally” type of market.

Interest rates in America continue to be a major issue for metals markets, as gold fails to break above $4600 early on Monday.

The Nasdaq 100 was very noisy in the early part of Monday, as the markets continued to move on the interest rates in the US. The war headlines continue to move the markets, just as they have on Monday.

Silver continues to see a lot of reaction to the rates in the US, as they are still far too strong for metals to do well, and silver itself is very sensitive to this issue at the moment.

The GBP/USD exchange rate continued its strong downward trend this week, reaching its lowest level since November 28 last year. It has slumped to 1.3180, down by over 5% from its highest point this year.

The EUR/USD exchange rate continued its recent downtrend on Tuesday as the US-Iran war continued and energy prices jumped. It dropped to 1.1460, its lowest level since March 19, and by 5.25% below the highest point this year.

Bitcoin price remained in a tight range below the important support level at $70,000 as fear spread across the market. The BTC/USD pair was trading at 66,800, down sharply from the year-to-date high of 126,300.

Bitcoin is trying to rebound after a long period of consolidation. This is a market that remains cautious, but stable.

The British pound has fallen below the support level that has been holding up this market for some time. It looks like the safety of the US dollar continues to be a major driver.

Intel has seen significant pressure on Monday, as there are a whole host of reasons for negativity.

Nikkei 225 continues to see a lot of volatility, as we are trying to recover from the recent selloff.

Natural gas markets have fallen again on Monday, as traders are pricing in abundance in supply, as well as warmer temperatures in the USA.

The light sweet crude oil market has been as high as just under the $120 level and as low as the $77 level during the month of March. In other words, it’s been all over the place and the only thing that I can see on the chart that is somewhat consistent is that anytime the market