Forex Daily Forecast, Analysis and Prediction

USD/JPY: Support at 105.87 likely today’s pivotal point

The USD/ZAR has traded within a tight value band the past couple of days after seeing its bearish trend gain impetus early this week.

After demonstrating a sudden selling spike downwards early this week and reestablishing its bearish trend the USD/INR traded with plenty of sideways price action.

The USD/SGD bearish trend resumed soundly the past two days of trading and is again approaching critical support junctures.

BTC/USD: Break below $11,400 was technically significant

GBP/USD: Pound showing strength but uncertain technical picture

EUR/USD: Today may produce breakout but direction uncertain

The S&P 500 rallied significantly during the trading session on Wednesday, reaching towards the 3450 level and then breaking above there to go looking towards the 3475 handle.

The NASDAQ 100 has exploded to the upside during the trading session on Wednesday, reaching the 12,000 area.

Silver markets have rallied quite nicely during the trading session on Wednesday after initially dipping.

The West Texas Intermediate Crude Oil market broke higher during the trading session again on Wednesday, as we continue to see more of a grind to the upside.

The gold markets have pulled back just a bit during the trading session on Wednesday but then turned around to show signs of extreme strength.

The Euro initially fell during the trading session on Wednesday but did turn around to show signs of life again by the end of the day.

The US dollar initially tried to rally during the trading session on Wednesday but gave back the gains near the 50 day EMA.

The Australian dollar rallied again during the trading session on Wednesday, as we have pressed the 0.7250 level yet again.