Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market gapped higher to kick off the trading session on Wednesday and then shot towards the $67.50 level.

The US dollar fell initially during the trading day on Wednesday to break down to fresh, new lows, but then turned around to show signs of life again.

The DAX gapped higher to kick off the trading session on Wednesday, and then broke well above the 15,000 level to show signs of strength.

The NASDAQ 100 rallied a bit during the trading session on Wednesday but gave back the gains rather quickly.

The S&P 500 initially tried to rally during the trading session on Wednesday, only to give up early gains and form a less-than-attractive candlestick.

The gold markets initially pulled back during the trading session on Wednesday to test the 50-day EMA, only to turn around and start rallying again as we have seen multiple times over the last couple of weeks.

The Australian dollar rallied a bit during the trading session on Wednesday as we continue to see a lot of interest right around the 50-day EMA.

The Bitcoin market initially pulled back towards the 50-day EMA underneath, as we have seen a proclivity of this market to respect it.

The British pound rallied during the trading session on Wednesday but gave back the early gains.

The euro went back and forth during the trading session on Thursday in a very tight range, essentially going nowhere.

The 0.7750 area is looking pivotal.

A bearish breakdown could be strong due to latent euro weakness.

The GBP/USD is in a tight range as traders wait for the Bank of England (BoE) to deliver its interest rate decision.

The BTC/USD is in a consolidation mode as traders shift their focus to altcoins and the ongoing dealmaking in the blockchain industry.

The bulls succeeded in pushing the gold price to the level of $1799 dollars, one step away from the psychological resistance of $1800.