Forex Daily Forecast, Analysis and Prediction

The euro rallied significantly on Tuesday as we shot straight up in the air due to word that the ECB will consider tapering bond buyback purchases, like the United States.

The British pound rallied a bit on Tuesday but gave back the early gains to form a shooting star.

Gold markets fell a bit on Tuesday as we fell towards the 200-day EMA only to turn around and show signs of strength.

The Australian dollar rallied a bit on Tuesday to break above the 0.73 handle.

The Bitcoin market pulled back just a bit on Tuesday as the $50,000 level continues to be a headache for the market.

$46,595 is likely to be today’s pivotal point but already hit.

SafeMoon continues to grab the attention of cryptocurrency speculators as concerns regarding the ‘safety’ of its wagering capabilities storms to new heights.

The AUD/USD price retreated after the US published weak consumer confidence data on Wednesday.

The EUR/USD declined in the overnight session after the relatively weak US consumer confidence data.

Nearby resistance levels look more likely to hold than support.

The USD/INR has seen a strong tidal wave of selling emerge the past few days and, as September gets set to begin, traders need to be careful.

The price of gold is still stable around three-week highs, reaching the level of $1819 as of this writing.

Even with a US dollar weakened by the Fed's comments at the Jackson Hole Symposium, the USD/JPY did not experience strong losses as did the other US dollar pairs.

In the wake of a weak US dollar, the GBP/USD was able to complete a correction upwards to the resistance level at 1.3800 as of this writing.

Risk appetite contributed to the EUR/USD pair's completion of the upward correction path, with gains that reached the resistance level of 1.1830 as of this writing.