Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied during the trading session on Wednesday but gave back quite a bit of the gains.

The WTI Crude Oil market rallied a bit during the trading session on Wednesday, as we reached the middle average of the Bollinger Bands.

The US dollar rallied against the Japanese yen during the trading session on Wednesday but struggled to maintain those gains towards the end of the day.

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Get the USD/JPY Forex signal for February 1, 2018 here.

Get the USD/CAD Forex signal for February 1, 2018 here.

Get the GBP/USD Forex signal for February 1, 2018 here.

Get the EUR/USD Forex signal for February 1, 2018 here.

Gold prices rose $6.60 on Wednesday, supported by pullbacks in major stock markets and a weaker dollar.

The EUR/USD pair has been explosive to the upside over the last month or so, and more importantly, has broken above the top of a weekly bullish flag.

The US dollar has been very negative against the Canadian dollar during most of the month of January, as oil markets have shown a significant amount of strength.

The British pound has been very noisy over the last couple of weeks, but the one thing it has been consistently is bullish.

The US dollar has gone back and forth during the week, testing the 108 handle for support, an area that has clearly been an area of interest for the buyers over the last year,

The Australian dollar has been extraordinarily strong over the last several weeks, and it looks as if we are pressuring to the upside yet again.