Forex Daily Forecast, Analysis and Prediction

USD/JPY: Pivotal Point at 107.53

The US dollar has rallied slightly during the trading session on Wednesday as we may have gotten a little bit oversold.

The Euro initially tried to rally during the trading session on Wednesday but found support at the 200 day EMA just as it did during the previous session.

The British pound has initially pulled back during the trading session on Wednesday, but then turned around to rally significantly to show signs of life again.

The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Wednesday but failed to keep gains above the $47.50 level.

Natural gas markets have gone back and forth during the trading session on Wednesday but have struggled a bit above the $1.85 handle.

The Bitcoin market did very little during trading on Wednesday, as markets continue to consolidate after a violent thrashing in both directions from a global standpoint.

Gold markets initially tried to rally after gapping lower on Wednesday, only to see the $1650 level offer resistance yet again in the forward futures contract.

The NASDAQ 100 has rallied again during the trading session on Wednesday to take back the losses from the Tuesday session.

The S&P 500 has rallied significantly during the trading session on Wednesday again, breaking above the 3100 level.

The Australian dollar has rallied significantly during the trading session on Wednesday, reaching towards the 0.6650 level.

BTC/USD: Pivotal point at $8,995

This precious metal was caught in a correlation sell-off with the rest of the financial system.

GBP/USD: Pound surprisingly strong

After the Bank of Canada announced an emergency interest rate cut of 50 basis points to 1.25%, mirroring a comparable cut