Forex Daily Forecast, Analysis and Prediction

GBP/JPY remains bullish as persistent yen weakness and favorable rate differentials push the pair toward the key 214–214.50 resistance zone.

Bitcoin is holding up well despite geopolitical turmoil, with a developing bottoming pattern and steady ETF inflows suggesting a possible breakout if $76,000 is cleared.

AUD/USD is trapped in the middle of a broad range, with 0.7150 as major resistance and 0.6950 near the 50-day EMA acting as the main support zone.

NZD/USD extended its rally on Thursday as risk appetite improved, with 0.59 now the key resistance level and 0.58 acting as the main support.

USD/JPY remains rangebound between 158 and 160, with upside pressure building toward 160.40 as yield differentials continue to favor the US dollar.

USD/CAD is slipping after stalling above 1.3850, with the 200-day EMA and 1.3750 now acting as the key downside support zone.

GBP/USD is testing the key 1.35 resistance zone, where a rejection tied to higher US yields could trigger another short-term move back toward 1.34.

The USD/MYR is trading around the 3.9850 mark, which is below highs seen early this week when the 4.0350 vicinity was being traversed

The NZD/USD is near the 0.58350 mark as of this writing with its typically wide spread and fast price action being displayed, this as the currency pair sustains gains made the past day and a half.

The shaky temporary ceasefire over Iran has pushed the price up, but it stagnates without momentum as a positive end to the war for the global economy is far from certain.

The US dollar fell against the Canadian dollar and others with the ceasefire being announced.

The Euro has been all over the place on Wednesday, as traders are looking to determine where risk is going now that a ceasefire has been declared in the Middle East.

The Euro rallied quite significantly during the trading session on Wednesday, breaking above the crucial 1.16 level and by extension the 50-day EMA. Keep in mind that it would only take a negative headline to turn things around.

The dollar has fallen against the Japanese yen as rates drop. The interest rates in the US falling would take one of the reasons for the rise of the USD out of the equation. That being said, the Japanese yen has its own issues.

The S&P 500 jumped with the announcement of the ceasefire between the United States and Iran. However, there are a lot of nerves out there, and volatility probably hasn’t disappeared quite yet.