Forex Daily Forecast, Analysis and Prediction

The CAC Index did very little on Wednesday as we sit right around the 6700 level, and perhaps even more importantly, the 50-day EMA.

The FTSE 100 rallied a bit on Wednesday to break above the 7100 level.

The West Texas Intermediate Crude Oil market initially pulled back on Wednesday but then turned around to show signs of strength yet again.

The NASDAQ 100 is stalling as we head towards the Jackson Hole Symposium, which will feature several central bank statements giving us an idea as to what traders can expect out of central planners.

The S&P 500 rallied again on Wednesday as the market continues to look at the Jackson Hole Summit as a potential event.

The Bitcoin market initially drifted a little bit lower on Wednesday but found a little bit of buying pressure underneath to form a hammer.

The Australian dollar initially pulled back just a touch on Wednesday but then shot higher to show signs that it may go looking towards the 0.73 level.

Gold markets fell a bit on Wednesday as the 200-day EMA has offered resistance.

The euro was all over the place on Wednesday as we chop around waiting for clarity from the Jackson Hole Symposium about tapering.

The British pound initially pulled back on Wednesday to test the 200-day EMA and the 1.37 handle.

Resistance at 0.7280 is holding so far.

The 1.1761 level looks pivotal as current basing support.

Will Powell talk the markets down? Or will the uncertainty in the US economy and rising infections lead him to take a softer stance until further notice?

The GBP/USD price was little changed in the overnight session as focus shifts to the virtual Jackson Hole summit that kicks off today.

The BTC/USD price has gone nowhere this week as investors assess its recent strong rally.