Forex Daily Forecast, Analysis and Prediction

The British pound initially tried to rally during the trading session on Wednesday but then turned around to show signs of exhaustion.

The Euro has rallied a bit initially during the trading session on Wednesday and then sold off rather drastically.

The S&P 500 has gotten hammered during the trading session on Wednesday, reaching down towards the 2850 handle.

The WTI Crude Oil market broke down significantly during the trading session on Wednesday as we continue to see a lack of demand globally.

The NASDAQ 100 has broken down significantly during the trading session on Wednesday as we approached the 7500 level.

Natural gas markets rallied a bit during the trading session on Monday, but then turned around to fall rather hard from the crucial $2.20 level.

The Bitcoin markets broke down significantly during the trading session on Wednesday as we have reached down towards a pretty significant support level.

USDCAD: More bullish above 1.3286

The US dollar has fallen hard against the Japanese yen during the trading session on Wednesday and it looks like it’s ready to continue the downtrend.

Gold markets initially pulled back during the trading session on Wednesday, reaching down towards the $1500 level.

USDCHF Analysis: Ranging above 0.9700 area

GBPUSD: Bearish below 1.2106, weak Pound

EURUSD: Bearish break below 1.1163

Weak confidence in the performance of the German economy to the lowest level in 8 years increased the bearish momentum of the EUR / USD pair

For the fourth day in a row, the GBP / USD has been stabilizing on the threshold of 1.2000 psychological support and is struggling not to break through this support to avoid stronger selling and testing new record support levels.