Forex Daily Forecast, Analysis and Prediction

For three consecutive trading sessions, the EUR/USD has been subjected to a bearish correction that pushed it towards the 1.1106 support and failed to continue with its recent gains

Instability dominates the Pound's performance against other major currencies as investors disperse the rapid and successive developments of Brexit.

The limited performance in narrow ranges of the gold, and for several sessions, as evident on the daily chart, warns of a price explosion in one direction and will be stronger upward if moving towards psychological $1500 resistance.

USD/JPY rebounded to 108.68 resistance as investors continued to take risks and abandon safe havens amid optimism over the course of trade talks between the United States and China and the possibility of avoiding a chaotic exit from Britain from the European Union.

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Bearish momentum in the USD/ZAR is being depleted inside its support zone which halted the sell-off.

The British pound has initially fallen during the trading session on Wednesday but turned around to reach towards the 1.29 level.

The Euro initially fell during the trading session on Wednesday but found enough support just above the 1.11 level to turn things around and form a bit of a hammer.

The US dollar initially fell during the trading session on Wednesday but found enough support near the ¥108.25 level to turn things around and form a bit of a hammer.

The S&P 500 continues to struggle overall, as although we haven’t broken down, we simply can’t get anywhere to the upside.

The Australian dollar has initially fallen during the trading session on Wednesday, reaching down towards the 0.68 level before turning around to show signs of life again.

The NASDAQ 100 initially pulled back in trading on Wednesday, testing the 50-day EMA.