Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied quite nicely during the New York trading session on Wednesday as we continued to see a lot of bullish pressure.

The natural gas market tried to rally a bit during the New York trading session on Wednesday but faced a selloff yet again as they continued to look at the 50 day EMA as a bit of a “ceiling” in the market.

The NASDAQ 100 rallied significantly during the New York trading session on Wednesday, as we continued to see a lot of buying pressure but we also see a lot of resistance above at the 7800 level.

The British pound broke down a bit during the New York trading session on Wednesday as we continued to see a lot of resistance at the 1.22 handle.

The Euro initially tried to rally during the New York trading session on Wednesday,

The Bitcoin market fell rather hard during trading on Wednesday, reaching down below the 50 day EMA during that day.

The Australian dollar initially tried to rally during the trading session on Wednesday, reaching towards the 0.68 handle.

Ahead of the release of the minutes of the last Fed meeting, the EUR/USD stabilizes below the 1.1100 support level.

For five trading sessions in a row, the GBP/USD pair is trying to correct higher, but the gains did not exceed the 1.2180 resistance level recorded during Tuesday's trading session.

Despite the decline in the price of gold to the $1493 support level during Tuesday's trading session and because the incentives for its gains still stands.

On the daily chart, it appears that the USD/JPY is stabilizing in tight ranges for several sessions between the 105.70 support level and the 106.68 resistance level before settling around 106.40 at the time of writing, and before the release of the last Fed minutes of the meeting.

NZDUSD: Slow bearish price channel

AUDUSD: Ranging and technically unpredictable

USDJPY: Price cannot get above 106.73

Bitcoin: Bearish trend line pushed price down