Forex Daily Forecast, Analysis and Prediction

Bitcoin has spent its time in the wilderness recently, but it is hard to ignore that it could very well be back at this point. I am a bull now.

Short-term pullbacks continue to be what I look for in this market, as the interest rates continue to favor America.

Tron (TRX) has been grinding higher inside a tight ascending channel since early March, climbing from $0.278 to a recent high near $0.325 before consolidating in the low $0.30s.

The 160.4 yen level is still an area I will be watching closely in this pair.

The biggest concern I have right now is that the interest rate markets are being driven by games being played with the headlines. Because of this, and the overextension of price, it is difficult to be aggressive.

Today's Gold Support Points: $4700 – $4640 – $4570 per ounce.

Support Levels for EUR/USD Today: 11.1690 – 1.1620 – 1.1550

Uncertainty persists as to whether and how the Iran / USA conflict might be resolved, which is leading this currency pair, as a key risk barometer, to trade sideways.

The USD/BRL closed near the 4.9669 mark on Wednesday as the currency pair held onto its lower realm, but has shown a rather consistent dance between support and resistance as financial institutions wait for Middle East clarity.

As of this morning the USD/ILS continues to trade in lower depths as it remains in sight of the 3.00000 level, and before Israeli holidays the past couple of days was able to show an ability to penetrate the mark.

The GBP/USD exchange rate pulled back on Thursday as traders reacted to the ongoing US-Iran crisis and the latest UK consumer inflation report. It dropped to a low of 1.3500, down from this month's high of 1.3570.

The EUR/USD exchange rate has pulled back in the past two consecutive days as investors reflect on the next stages of the ongoing US-Iran war. It retreated to 1.1710, down from this month’s high of 1.1847.

Bitcoin price continued rising this week, crossing the important resistance level at $78,000 as the bull run gained steam. The BTC/USD pair rose to 79,000 for the first time since January. It has jumped by over 31% from its lowest level this year.

EUR/CHF remains rangebound and headline-driven, with 0.92 as key resistance and 0.91 as the main support zone to watch for a potential rebound.

GBP/JPY remains in a bullish trend, with 214 holding as support and a break above 216 likely opening the way for a move toward 222.