Forex Daily Forecast, Analysis and Prediction

USDCAD: Bullish breakout beyond 1.3200

USDCHF Analysis: Bullish breakout above 0.9950

GBPUSD: Very bearish, another new 2-year low

EURUSD: Bearish breakdown to new 2-year low price

The Australian dollar initially tried to rally during the trading session against the US dollar, but the Federal Reserve wasn’t quite dovish enough to pick up currencies against the greenback.

The US dollar has rallied a bit during the trading session on Wednesday, as the Federal Reserve of course has gotten very much in the spotlight due to the fact that the interest rate announcement had come out.

The British pound initially tried to rally during the trading session on Wednesday in anticipation of the Federal Reserve interest rate cut.

The natural gas markets have rallied rather significantly during the trading session on Wednesday, slicing through the $2.20 level.

Gold markets fell rather hard after the interest rate announcement and even leading into it on Wednesday but have found support at a crucial level underneath.

The Euro has been very soft during most of the month of July, and as we head into the month of August, we are sitting at the 1.11 region.

The British pound has broken down rather significantly late in the month of August, as we continue to see a lot of negativity around Sterling in general.

The Australian dollar has had a couple of rough weeks late in the month of July, and that could continue as we are in a strong downtrend.

The British pound has continued to sell off during the month of July, closing below the 1.2350 level quite handily.

The US dollar has rallied against the Canadian dollar late during the month of August, and furthermore has broken the back of several inverted hammers on the weekly chart.

The EUR/USD pair did not do a lot for several consecutive sessions and is settling around the 1.1160 level at the time of writing.