Forex Daily Forecast, Analysis and Prediction

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.

Investors continue to buy safe havens amid increasing global trade and geopolitical tensions, which will favor continued downward pressure on USD / JPY.

Silver: Bulls testing new 1-year high at $16.82

NZDUSD: New 3-year low price at 0.6376

AUDUSD: Price falls to new 10-year low at 0.6677

USDJPY: Resistance at 106.73 holding

Bitcoin: Sold above $12,000

The Euro went back and forth during the trading session on Tuesday, showing signs of exhaustion, breaking above the 50 day EMA but then turning around to form some type of shooting star.