Forex Daily Forecast, Analysis and Prediction

The Euro has gone back and forth over the last week, and Thursday was just more of the same.

Bitcoin markets initially fell during the New York trading session on Thursday but then found enough support at the uptrend line to turn around and form a significant hammer as the market continued to show signs of resiliency.

The Australian dollar fell a bit during the New York trading session on Thursday but it remains well within the trading range that we have been in for the past few weeks.

For four consecutive trading sessions, the USD/JPY is unable to cross the 106.70 resistance level as seen on the provided daily chart below.

Gold price was little affected by the release of the Fed Reserve Minutes’ contents for July meeting.

Investors were counting on the summit between German Chancellor Merkel and British Prime Minister Boris Johnson for a breakthrough on the Brexit issue, which has strained global financial markets and is one factor in the possibility of a global crisis.

The minutes of the US Federal Reserve meeting held in late July showed that members plan to pay close attention to the effects of the data on the economic outlook.

NZDUSD: Bearish price channel

AUDUSD: Slightly bearish consolidation

USDJPY: Price cannot get above 106.73

Bitcoin: Bearish but supportive inflections nearby

USDCAD: Still weakly bullish

USDCHF Analysis: Bullish above 0.9803

GBPUSD: Messy and unpredictable on Brexit renegotiation attempt

EURUSD: Bearish below 1.1092