Forex Daily Forecast, Analysis and Prediction

The USD/SGD is traversing an intriguing price range early today as it hovers slightly below important short-term resistance levels.

The USD/ZAR has maintained a rather consistent bearish trend and the Forex pair has challenged lower support.

The FTSE 100 pulled back significantly on Wednesday as we continue to chop around without any type of direction.

The DAX Index gapped slightly lower at the open on Wednesday, and then broke down below the 50-day EMA.

The West Texas Intermediate Crude Oil market rallied a bit on Wednesday to test the downtrend line that I have been paying close attention to for quite some time now.

The S&P 500 pulled back towards the 4500 level only to find buyers in that general vicinity.

The NASDAQ 100 pulled back a bit on Wednesday as we continue to see nauseating volatility.

Gold markets were very noisy on Wednesday, essentially standing still with a slightly negative tilt.

The Australian dollar chopped around and did as much damage to accounts as it could on Wednesday as we ended up forming a neutral candlestick around the 50-day EMA.

The Bitcoin market fell again on Wednesday but then showed signs of life again as the 50-day EMA has offered a significant amount of support.

The British pound initially fell on Wednesday to reach down towards the 200-day EMA.

The euro pulled back during the trading session on Wednesday to test the 1.18 level.

The 0.7350 area may be supportive or pivotal today.

The GBP/USD price rebounded in the overnight session as the market reflected on a testimony by Andrew Bailey, the Bank of England (BOE) governor and the Federal Reserve Beige Book.

The BTC/USD price declined for the third straight day as sentiment in the cryptocurrency industry waned.