Forex Daily Forecast, Analysis and Prediction

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

Economic data out of the Eurozone continues to underperform, led by its export engine Germany.

The US dollar has gotten hit rather hard against the Chinese Yuan, and just about any other currency you can think about their as the Federal Reserve has cut interest rates by 50 basis points in a surprise move at the very open of the month.

The GBP/USD pair has been drifting a bit lower over the last couple of months, but recently things have changed.

Australia reported a more significant trade surplus for January than forecast, but marginally lower than the one announced in December.

EUR/USD: Strong resistance at 1.1204

The Euro has rallied a bit against the British pound as of late, but quite frankly it does look as if it is going to run into some trouble in the area currently focused on.

Needless to say, the financial markets are going to be difficult to predict the moves of over the next 30 days, as we have seen mass chaos introduced into the marketplace.