Forex Daily Forecast, Analysis and Prediction

The DAX has been very quiet during trading on Wednesday, as we are trying to figure out what to do with risk appetite.

The BTC/USD market has been rather quiet during the session on Wednesday, gaining 2% in the lead-up to the FOMC rate hike and statement.

The AUD/NZD has rallied a bit during the trading session on Wednesday as we continue to see a lot of volatility in the Forex markets.

My previous signal on 28th November gave an excellent and nicely profitable short trade from the bearish hammer candlestick rejection of resistance level which I had identified at $0.6723.

The GBP/USD price drifted upwards during the Asian session as focus shifted to the upcoming interest rate decision by the Bank of England (BoE).

The EUR/USD price moved sideways in the overnight session as investors reacted to the latest interest rate decision by the Fed.

The BTC/USD price recovery eased slightly after the Federal Reserve downshifted its policies.

The TRY/USD stabilized during early trading on Tuesday morning.

The euro price remained the best performer against the US dollar since the start of trading this week.

The decline in US inflation figures, less than expected, contributed to pressure on the US dollar against the rest of the other major currencies.

Gold futures settled significantly higher today, as the US dollar fell sharply after weak consumer price inflation data helped calm concerns about the outlook for US interest rates

The US inflation numbers will put pressure on the US Federal Reserve to calm down the pace of raising interest rates in the future.

Spot natural gas prices (CFDS ON NATURAL GAS) fell in early trading on Wednesday, recording sharp daily losses until the moment of writing this report, by -5.10%.

The Dow Jones Industrial Average rose during its recent trading on the intraday levels, to achieve new gains in its last sessions by 0.30%.

The USD/ZAR initially tried to rally during the Wednesday session, as we broke above the 50-Day EMA.