Forex Daily Forecast, Analysis and Prediction

Bitcoin had a wild week which started with its 4th best daily performance and a price surge of over 42%

UK Prime Minister Johnson received support for a December 12th 2019 election as the main opposition party, the Labour Party, dropped its opposition to the snap election.

After the Bank of Canada kept interest rates unchanged at 1.75%, the Canadian Dollar plunged as the central bank suggested that an interest rate cut is coming.

New all-time highs in US equity market after the US Fed cut interest rates as expected, but signalled that a pause is next, extended the risk-on mood across financial markets.

Bitcoin: Bullish consolidation above $8,893

USDCAD: BoC cuts growth forecast; CAD much weaker

USDCHF Analysis: Bearish below 0.9890 to 0.9850

GBPUSD: Weakly bullish within wide range from 1.2767 to 1.3000

EURUSD: Bullish above 1.1152

The S&P 500 initially pulled back during the trading session on Wednesday as we awaited the FOMC statement.

The gold markets have been all over the place during the trading session on Wednesday as the FOMC Statement came out as well as the press conference.

The West Texas Intermediate Crude Oil market has fallen quite a bit during the trading session on Wednesday, heading into the FOMC.

Natural gas markets rallied again during the trading session on Wednesday, reaching towards the recent highs that we have seen, near the $2.73 level.

Bitcoin has pulled back a bit during trading on Wednesday in relatively quiet action.

During yesterday's trading session, GBP/USD tried to maintain its bullish trend by returning to the vicinity of the 1.2900 resistance