Forex Daily Forecast, Analysis and Prediction

The British pound went back and forth during the trading session on Wednesday yet again as we continue to bounce around the 1.2150 level.

Bitcoin markets went back and forth during the trading session on Wednesday, as we continue to test a major level.

The West Texas Intermediate crude oil markets fell rather hard during the trading session on Wednesday, reaching down towards the $50 handle.

The NASDAQ 100 initially fell during the trading session on Wednesday, reaching down towards the 200 day EMA before turning around and bouncing significantly later in the day.

The US dollar has gone back and forth during the trading session on Wednesday, as we continue to see a lot of volatility in this pair.

The S&P 500 initially fell during the trading session on Thursday, reaching down below the 2850 handle, in an attempt to break down through the supportive candle stick from the previous session.

The Australian dollar fell hard during the trading session on Wednesday, reaching as low as 0.6676 before bouncing significantly to form a hammer for the day.

Gold markets have exploded to the upside during trading on Wednesday, as central banks continue to cut interest rates.

USDCAD: Ranging from 1.3266 to 1.3345

USDCHF Analysis: Slightly more bullish as 0.9700 continues to hold

GBPUSD: Still supported at 1.2092

EURUSD: Ranging from 1.1163 to 1.1244

EUR/USD's recent bullish correction attempts did not exceed the 1.1249 resistance level recorded during Tuesday's trading session

On the daily chart, the GBP / USD pair is showing a weak performance as the pair trades between the 1.2101 support and the 1.2209 resistance, and is stable around 1.2154 at the time of writing.

I mentioned in my latest technical analysis that the price of gold may head towards the 1500 psychological peak if it succeeds in testing the resistance 1462 and 1475 levels, and the 1490 resistance has already been reached.