Forex Daily Forecast, Analysis and Prediction

Bullish momentum in the EUR/AUD is fading and more downside is expected to follow.

New Zealand economic data released this morning showed an increase in consumer confidence for November while building permits decreased.

The EUR/USD fell to the 1.0992 support during Wednesday's session, as the pressure on the Euro continues with the contrast economic performance between the US and the Eurozone.

It is noticeable for forex traders that GBP/USD is singing alone and ignoring the strength of the US dollar, as the pair rose to the 1.2950 resistance f at the time of writing, after the recent correction attempts failed to break the 1.2800 support.

Gold's current stability may be negatively affected by investors' risk appetite and strong US dollar.

While most cryptocurrencies bounced higher following a sharp sell-off led by Bitcoin, the bearish trend remains dominant.

Investors' risk appetite and better results from the US economic data package yesterday provided momentum for the USD/JPY pair, which spiked towards the 109.60 resistance level, a six-month high, before settling around 109.45 at time of writing.

The Euro fell during the trading session on Wednesday, testing the 1.10 level.

The US dollar has rallied significantly during the trading session on Wednesday, breaking to a fresh, new hunting, as we are looking to take off to the upside yet again

The British pound initially fell during the trading session on Wednesday but found enough support just above the vital 1.28 level to turn around and rally yet again

The S&P 500 as rallied significantly during the trading session on Wednesday to close out the majority of the week, as the Thursday session will be Thanksgiving.

The NASDAQ 100 is taken off during the trading session on Wednesday, breaking above the top of the channel that we had been in

The Australian dollar is an absolute horrible currency to trade at this point.

While most cryptocurrencies bounced higher following a sharp sell-off led by Bitcoin, the bearish trend remains dominant

Brexit has taken a back-seat as the December 12th 2019 UK election remains the center of attention.