Forex Daily Forecast, Analysis and Prediction

The USD/ILS is near the 3.08475 ratio as of this morning with a wide spread being seen, this as the broad Forex market continues to be hyper-volatile and financial institutions react.

The NZD/USD is near the 0.60700 mark as of this writing with lightning quick changes of value being seen and a wide spread that speculators will have to treat with care.

The British Pound has been gaining very strongly against the US Dollar this week, but there are early signs of a bearish double top at $1.3850.

The S&P 500 has spent the bulk of January, perhaps doing so in order to work off some of the excess that the markets have seen for the last several months before.

Silver has been very noisy to say the least, mainly to the upside obviously during the month of January as well as several months before. All things being equal, this is a market that I think is going to continue to see a lot of noisy and bullish behavior, but a short-term pullback from here then opens up the possibility of finding value in a market that has essentially just exploded to the upside.

The Nasdaq 100 has gone back and forth again during the month of January continuing the sideways action that we had seen in both November and December. Ultimately, I think this is a market that is trying to do everything they can to break above the 26,000 level.

While silver has been taking most of the headlines, it is worth noting that during the month of January we saw gold piercing the crucial $5,000 level, an area that I thought it would be months before we took out.

The Light Sweet Crude Oil market has been a bit positive for the month of January, but quite frankly we have been bouncing from a very oversold position. Because of this, I don't read too much into the positivity other than we had tested a major support level in the form of $55 recently and have recovered.

The USD/JPY is near the 153.325 ratio as of this writing, this after a full month of tumultuous trading in the currency pair which has led to widespread accusations and rumors regarding price fluctuations.

BTC/USD as of this writing is floundering above the 88,000.00 mark and has shown some downwards motion the past week that may look concerning to some of its backers.

From a technical analysis standpoint, the 1.3550 level begins pretty significant support all the way down to 1.3450. However, this session could see fireworks.

Silver has been very noisy during early hours on Wednesday, as we continue to see a lot of volatility. However, the overall attitude at this point in time remains bullish as per usual.

The British pound initially fell a bit during the trading session on Wednesday, only to see buyers at the same place again. This market continues to show resilience, and stability, despite the noise in the markets overall.