Forex Daily Forecast, Analysis and Prediction

The British pound rallied significantly during the trading session on Thursday to slam into a major downtrend line that I have been tracking for a while.

The USD/ARS has continued to demonstrate its unceasing ability to traverse higher and brush aside resistance levels with relative ease.

The British pound was subjected to several pressure factors that weakened it against the rest of the other major currencies recently.

Since the beginning of the week, the USD/JPY has settled around the 110.00 psychological resistance, also hitting the 110.45 resistance and settling around 110.05 as of this writing.

Gold has been subjected to selloffs that pushed it towards the $1783 level, settling around $1790 as of this writing.

It's a decisive day for the euro pairs, with markets and traders awaiting an update of the monetary policy decisions from the European Central Bank.

Since the 1st of September, the USD/MXN has essentially straddled a rather tight price range and speculators have reasons to worry about a breakout.

The USD/SGD is traversing an intriguing price range early today as it hovers slightly below important short-term resistance levels.

The USD/ZAR has maintained a rather consistent bearish trend and the Forex pair has challenged lower support.

The FTSE 100 pulled back significantly on Wednesday as we continue to chop around without any type of direction.

The DAX Index gapped slightly lower at the open on Wednesday, and then broke down below the 50-day EMA.

The West Texas Intermediate Crude Oil market rallied a bit on Wednesday to test the downtrend line that I have been paying close attention to for quite some time now.

The S&P 500 pulled back towards the 4500 level only to find buyers in that general vicinity.

The NASDAQ 100 pulled back a bit on Wednesday as we continue to see nauseating volatility.

Gold markets were very noisy on Wednesday, essentially standing still with a slightly negative tilt.