Forex Daily Forecast, Analysis and Prediction

The British stock markets had a choppy session on Wednesday as we continue to try and discern whether or not stocks in general can go higher.

The West Texas Intermediate Crude market has been relatively choppy during the trading session on Wednesday

The gold markets went back and forth during the trading session on Wednesday

The EUR/USD gains face a threat despite the recent optimism from the decline in coronavirus infection and death numbers in Europe.

Despite the decline in gold prices during yesterday's session to the $1642 level, after reaching to the $1673 resistance in the same session.

The cable quickly recovered from recent sell-offs in the currency trading market against most major currencies after British Prime Minister Boris Johnson was admitted to the intensive care due to worsening health condition of coronavirus symptoms.

The USD/JPY pair remained under downward pressure pushing it towards the 108.66 support before settling around the 108.80 at the time of writing.

Pivotal point at 0.6126

Pressure building for further upside breakout.

The US dollar pulled back a bit against the Japanese yen during the trading session on Tuesday, as the ¥109.50 level has been a bit too much to overcome.

The S&P 500 initially rally during the trading session on Tuesday but did pull back a bit to form a shooting star.

The NASDAQ 100 to force itself to the upside during the trading session on Tuesday but as you can see, we rolled right back over to form a shooting star.

The Euro rallied during the trading session on Tuesday, reaching above the 1.09 level.

The British pound initially fell during the trading session on Tuesday, but then turned around to show signs of life at the 1.22 handle.

Both currencies correlated so little movement expected today.