Forex Daily Forecast, Analysis and Prediction

The British pound initially pulled back during the trading session against the US dollar on Wednesday, but then turned around to show signs of life again.

The Euro rallied quite stringently during the trading session on Wednesday, reaching much higher after the opening statement by Jerome Powell at the Humphrey Hawkins testimony in front of the United States Congress.

The US dollar fell rather hard against the Japanese yen during the trading session on Wednesday after the Federal Reserve Chairman Jerome Powell released his opening remarks for the Humphrey Hawkins congressional testimony.

NZDUSD: Strong bullish rejection of 0.6590

AUDUSD: Bullish reversal from 0.6900

USDJPY: Wide swings within long-term price range

Bitcoin: Strong bearish move from $13,166

USDCAD: 1.3050 is a major pivotal point

USDCHF Analysis: Weak Dollar drives price down

GBPUSD: Back above 1.2500 but still weak

EURUSD: Euro stronger but within long-term range

The Australian dollar initially fell during the trading session on Wednesday, reaching towards the 0.69 level underneath.

Bitcoin markets initially tried to rally during the trading session on Wednesday but then turned around to fall pretty significantly.

The crude oil markets had a positive session on Wednesday, breaking above the psychologically important $60 handle.

The S&P 500 initially tried to pull back during the trading session on Wednesday but gained quite a bit of pressure to the upside after the opening statement from the Humphrey Hawkins testimony was released.