Forex Daily Forecast, Analysis and Prediction

The New Zealand dollar rallied a bit on Wednesday to reach above the 0.68 handle.

The S&P 500 rallied just a bit on Wednesday, as we are hanging just below the 4800 level.

Gold markets gapped lower to kick off the Wednesday session, and then sliced through a ton of support.

Silver markets fell on Wednesday as the 50 day EMA has offered a significant amount of resistance.

The Bitcoin market did very little on Wednesday as we continue to hang about the 200 day EMA.

The euro went back and forth on Wednesday as we continue to see volatility.

The British pound rallied again on Wednesday to reach towards the crucial 1.35 handle.

There is a potential pivotal point at $1.1315.

The GBP/USD pair crossed a key resistance level on Wednesday as investors reflected on the rising US trade deficit and weak housing data.

The BTC/USD pair remained under pressure on Thursday morning as demand for Bitcoin remained sluggish.

The AUD/USD pair tested a key resistance level on Wednesday as the US dollar weakened.

The recent decline in the price of the US dollar helped the gold market to rebound upwards, reaching the $1820 resistance before the settling around $1805 as of this writing.

The weakness of the Japanese yen (the traditional safe haven) allowed the USD/JPY to hold on to the gains of the recent bullish rebound to the resistance level of 114.95, the highest in a month.

The EUR/USD has maintained its recovery from November lows below the 1.12 support but has repeatedly turned away from technical resistance near the 1.1356 level.

The GBP/USD rose sharply with the rise of risk appetite in global markets.