Forex Daily Forecast, Analysis and Prediction

The recent EUR/USD correction attempts were capped by the move towards 1.1116 resistance and the closest to 1.1120 resistance, which gives it the opportunity to break the downtrend as seen on the provided daily chart.

Gold gains stalled around the $1484 resistance, before settling around $1477.

AUDUSD: Less bullish on poor Australian economic data

The catalysts for completing the GBP/USD bullish correction have increased with gains that hit the 1.3120 resistance, which has been at the highest level for almost seven months and is stable near that level at the time of writing.

The US dollar suffered a setback from the preliminary results of the new jobs in the U.S non-agricultural sector.

The Euro initially tried to rally during the day on Wednesday but ran into a buzz saw of resistance in the area just above the 1.11 handle again.

The Australian dollar pulled back a bit during the trading session on Wednesday, reaching down towards the 50 day EMA.

The S&P 500 recovered quite a bit during the trading session on Wednesday, after selling off drastically on Tuesday.

The US dollar has initially pulled back against the Japanese yen during the trading session on Wednesday but found enough support at the ¥108.50 level again to turn around and bounce.

The NASDAQ 100 has fallen initially during the trading session on Wednesday but turned around to recapture the losses from the previous session.

The British pound broke out during the trading session on Wednesday, slicing through the $1.30 level finally.

The West Texas Intermediate Crude Oil market rallied rather significantly during the trading session on Wednesday, reaching towards the $58.50 level.

Gold markets initially tried to rally during the trading session on Monday, but then on Wednesday turned around to show signs of exhaustion

Ethereum reversed its advance and the bearish environment remains dominant; cryptocurrency traders should expect more downside to follow.

USDJPY: Consolidating below 109.00