Forex Daily Forecast, Analysis and Prediction

The FTSE 100 fell after initially gapping higher on Wednesday but then fell almost immediately.

The DAX fell rather significantly on Wednesday, reaching down below the 50-day EMA.

Gold markets went back and forth on Wednesday as we have finally seen stabilization in a market that has been absolutely crushed over the last couple of sessions.

The S&P 500 fell a bit on Wednesday but has recovered quite nicely to form a bit of a hammer.

The NASDAQ 100 fell initially on Wednesday again, as it looks like the buyers are willing to come in and jump towards this market as it gives value every time it pulls back.

The euro broke down significantly on Wednesday to slice the 1.12 level, showing that we are going to continue to go much lower.

The British pound broke down significantly on Wednesday as traders are waiting for the FOMC meeting minutes to be released.

The US dollar rallied initially during the session on Wednesday, but also gave up gains near the 1.27 level as well.

The West Texas Intermediate Crude Oil market initially tried to rally on Wednesday but stalled just below the $80 level, and perhaps even more importantly, the 50-day EMA, as the indicator tends to attract a lot of attention.

The Bitcoin market fell a bit on Wednesday, but we continue to see the 50-day EMA offer a little bit of interest.

The GBP/USD price continued its freefall as investors reacted to the relatively strong economic data from the United States.

The AUD/USD pair dropped to the lowest level since September 30th mostly because of the stronger US dollar.

The BTC/USD price remained under pressure as investors reflected on news about India.

The USD/INR remains within a largely consistent price range and speculators may feel they have the ability to chase the Forex pair with limited risk.

For the third consecutive day, gold showed strong bearish momentum, which pushed it to the $1782 support level, a 3-week low, before settling around $1796 as of this writing.