Forex Daily Forecast, Analysis and Prediction

Bitcoin initially plunged on Tuesday, but at this point, it is worth noting that the markets recovered, which is impressive, given the external chaos.

British pound rallied against the New Zealand dollar on Tuesday, as the markets are trying to price in risk appetite situation around the world.

The British pound has initially dropped against the Japanese yen, as the markets are trying to determine what risk appetite is going to be as we are dealing with a major war now.

The NASDAQ 100 index continues to see selling in the European and Asian overnight sessions, but once the Americans are left to their own devices, the market shows resilience again.

The US dollar has rallied against most currencies on Tuesday, as we continue to see a lot of concerns out there about the war, and of course any knock-on effects.

The US dollar has rallied against the Japanese yen yet again, as the markets are testing a multi-decade ceiling.

It’s been a volatile session in the USD/CAD pair, as the market continues to price in the idea of oil markets moving on war headlines.

Silver has been all over the place on Thursday, as the markets are trying to react to the strengthening of the US dollar in general.

Gold has crashed on Tuesday as the markets are seeing a strong US dollar overall, and as a result, the market has tested a major region.

The Euro broke lower in trading on Tuesday, as the war in Iran continues. The expansion of war is obviously a serious problem, and the Qatari ceasing of natural gas production will be a major issue for Europe.

The technical picture suggests a bullish break of a price channel and key horizontal resistance will occur if the price gets established above $1.3372.

The USD/SGD pair rebounded this week, reaching its highest level since January 23. It continued its uptrend as geopolitical risks continued rising, pushing investors to the safety of the US dollar.

The USD/BRL pair rebounded sharply, reaching its highest point since January 21. It soared to a high of 5.3423, much higher than this week’s low of 5.1155, as the US dollar rallied amid the ongoing war in the Middle East.

The EUR/USD exchange rate continued its strong downward trend this week, reaching its lowest since November last year as the crisis in the Middle East accelerated. It also dropped as President Donald Trump ordered an end of trade between the US and Spain.

Bitcoin price was stuck in a tight range today, March 4, continuing a consolidation phase that started last month. The BTC/USD pair was trading at 68,155, down substantially from the all-time high of 126,300.