Forex Daily Forecast, Analysis and Prediction

The AUD/USD price is hovering near the lowest level since November last year as elevated global risks push traders to the safety of the US dollar.

Bitcoin has been selling off from multi-month highs in recent weeks, and it also sold off last week as risk sentiment in markets began to sink on a more hawkish US Federal Reserve and news of the failure of Silicon Valley Bank.

The EUR/USD touched a high of nearly 1.07010 on Friday, but finished went into the weekend around the 1.06385 ratio.

The GBP/USD went into the weekend around the 1.20300 level.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of March 12th, 2022 here.

The USD/ZAR has gone back and forth during the trading session on Thursday, as we continue to see a lot of bullish pressure overall against the South African Rand.

The S&P 500 market experienced some initial selling during Thursday's trading session, as futures traders sold off the contract.

The silver market has been rather uneventful lately, hovering just above the $20 level.

The GBP/USD has been struggling in recent weeks, with the currency unable to gain any significant momentum.

The EUR/USD showed signs of hesitation during trading on Thursday, as it initially tried to rally but ultimately gave back early gains.

The GBP/JPY has shown some weakness against the Japanese yen in recent trading sessions, as the currency pair tests key technical indicators.

The gold market experienced a bit of a rally during Thursday's trading session as it found support at the 200-Day EMA.

The USD/JPY has shown some weakness against the Japanese yen during Thursday's trading session, solidifying the idea of the ¥137.50-¥138 level being a significant resistance barrier.