Forex Daily Forecast, Analysis and Prediction

Looking at the Nasdaq 100, you can see that the market is on the precipice of trying to break out for a big move.

The S&P 500 has been bullish on Thursday and we are roughly in the middle of the overall consolidation area between $4700 on the bottom and $4800 on the top.

As New York got down to business, the 148 yen level was tested, and we'll have to see whether or not we can continue to go higher as a result.

The Australian dollar has gone back and forth during the trading session on Thursday as the 0.65 level underneath continues to be crucial support.

The crude oil market has been somewhat choppy during the trading session here on Thursday, as we continue to grind back and forth.

The US dollar has gone back and forth during the course of the trading session on Thursday as we continue to hang around the 1.35 level.

The Euro has done very little to change its overall attitude, we've gone back and forth, we've even tried to break above the 50-day EMA but gave back those gains.

Silver has gone back and forth on Thursday in early trading, but I think we're still stuck in the same range that we have been in for a while.

I see the $47,500 level as a major resistance barrier that will be very difficult to overcome. It's been important multiple times in the past.

The EUR/USD pair has been under pressure since the start of this week, falling to its lowest level in a month at 1.0844.

Recently, the US dollar rose against the pound, euro, and other major currencies after US retail sales for December beat expectations.

The continued strength of the US dollar has increased selling pressure on gold XAU/USD, with losses extending to the lowest level in a month.

The British pound recovered against other major currencies during yesterday's session after inflation in the UK rose more than expected, leading financial markets to ease expectations of imminent interest rate cuts from the Bank of England.

The USD/JPY is near the 147.750 ratio as of this writing, a high late on Wednesday in the currency pair touched the 148.510 mark.

The ‘promised land’ of U.S ETF funds begun late last week and thus far the results have not produced a rocket ride upwards.