Forex Daily Forecast, Analysis and Prediction

The Australian dollar chopped around and did as much damage to accounts as it could on Wednesday as we ended up forming a neutral candlestick around the 50-day EMA.

The Bitcoin market fell again on Wednesday but then showed signs of life again as the 50-day EMA has offered a significant amount of support.

The British pound initially fell on Wednesday to reach down towards the 200-day EMA.

The euro pulled back during the trading session on Wednesday to test the 1.18 level.

The 0.7350 area may be supportive or pivotal today.

The GBP/USD price rebounded in the overnight session as the market reflected on a testimony by Andrew Bailey, the Bank of England (BOE) governor and the Federal Reserve Beige Book.

The BTC/USD price declined for the third straight day as sentiment in the cryptocurrency industry waned.

The US dollar has been rising so far this week.

As of this writing the NZD/JPY is near the 78.100 level, a high of nearly 78.630 was demonstrated on the 3rd of September.

After trading near a low of 73.0000 as the week began, the USD/INR has produced solid bullish price action as it has brushed aside short term resistance levels.

DOT/USD fell from a high which was within sight of the 36.0000 mark yesterday, to a sudden lightning quick low of nearly 22.0000.

DOGE/USD slid towards important mid-term support yesterday with a quick dose of downward momentum.

The AUD/USD price retreated in the overnight session amid a broader greenback rebound that saw the dollar index rise by more than 0.45%.

The GBP/USD pair sell-off that started on Friday accelerated in the overnight session as the US dollar bounced back.

The EUR/USD price declined sharply after the relatively weak German sentiment data.