Forex Daily Forecast, Analysis and Prediction

Bitcoin: Buyers and sellers very evenly matched

During the session on Wednesday Gold markets rallied slightly after initially dropping lower, hovering around the $1500 level.

The NASDAQ 100 rallied a bit during the trading session on Wednesday, testing the 7800 level before shooting higher in the air.

The WTI Crude Oil market fell rather hard during the trading session on Wednesday, even though the inventory number was very strong.

The stock markets rallied late in the day on Wednesday which of course is a very bullish sign as it signifies that institutional traders are jumping into the market, and such larger pools of capital such as retirement funds are buying stocks.

Natural gas markets pulled back a bit during the trading session on Wednesday, as the 200 day EMA has offered significant resistance during the day on Tuesday, forming a shooting star.

The Australian dollar went back and forth during the trading session on Wednesday, as we hover just below the 50% Fibonacci retracement level from the recent selloff.

The US dollar rallied again during the trading session on Wednesday, reaching towards the ¥108 level.

The Euro fell a bit during the trading session on Wednesday, slicing through the 1.10 level yet again.

The British pound is likely to continue sideways as we have taken a bit of a break after the volatile move over the last couple of weeks.

Bitcoin did very little during the trading session on Wednesday, it’s likely that we continue to swing back and forth across the 50 day EMA.

The USD/CAD entered a price action reversal after recording its most recent intra-day high of 1.33788.

The Eurozone economy has struggled in 2019 and economic reports have been disappointing with a few isolated upside surprises.

USDCAD: Bulls winning over short-term

The Japanese Yen, a safe haven asset, has been under selling pressure over the past two trading weeks as forex traders started to rotate out of risk-off assets.