Forex Daily Forecast, Analysis and Prediction

The US dollar has rallied quite significantly against the Mexican peso during trading on Wednesday, as we continue to see a rush into safety currencies.

The Australian dollar has initially tried to rally during the trading session on Wednesday but then rolled over to reach down towards the 0.67 handle.

The natural gas markets initially tried to rally during the trading session on Wednesday, but as you can see we have found a significant downtrend line that has held the market down for quite some time.

Gold markets have gone back and forth during the trading session on Wednesday as we continue to dance around the $1550 level.

Bearish pressure on USD/JPY remains intact and testing the 104.44 support at the beginning of this week, the lowest in 32 months, has consolidated the strength of the general trend.

Gold rushed back up as, and as expected in the previous technical analysis that gold continues move around and the above $1500 psychological resistance will remain supportive of the upward trend and may motivate investors to return to buy it as long as global trade and geopolitical tensions exist.

A New support for the recent GBP/USD upward correction after the British opposition leader, Jeremy Corbyn, pledged to prevent Brexit without agreement.

Continued downward pressure on EUR/USD and weak correction attempts, make traders wonder about the upcoming targets for the continuation of the current situation.

Silver: New 18-month highs above $18.33

NZDUSD: Bearish price channel continues to hold

AUDUSD: More bearish

USDJPY: Support at 105.66 still holding

Bitcoin: Consolidating triangle continues to hold

The WTI Crude Oil market should continue to grind a little bit higher in the short term, but I do think that by the end of the day we will find sellers to push this market back down.

The S&P 500 initially tried to rally during the trading session on Tuesday but gave back quite a bit of the gains as we reach towards the 2900 level.