Forex Daily Forecast, Analysis and Prediction

The DAX in Germany has rallied pretty significantly during the trading session on Wednesday as we are now threatening the 200 day EMA again.

The West Texas Intermediate Crude Oil Market, or US Oil, has rallied rather significantly during the trading session on Wednesday as we've seen more of a risk-on type of feel to the markets overall.

The US dollar has fallen pretty significantly during the early hours on Wednesday against the Mexican peso.

We broke above the inverted hammer from the previous session.

Gold was all over the place during the trading session on Wednesday as we are trying to sort out what to do next.

We are trying to break above the 0.6550 level, which is an area that has been rather resistant.

We are doing what we can to form some type of basing pattern.

The market has broken above an inverted hammer from the previous session, which is quite often a very bullish sign.

I’ve noticed that the Philippine peso seems to be a bit of a now performer.

Although the price is taking its time to move, the technical picture remains basically bullish following the price making a new long-term high above $1.1000 a few days ago.

The GBP/USD exchange rate remained in a tight range.

Bitcoin price lost momentum in the overnight session.

The AUD/USD exchange rate retreated in the overnight session.

The Japanese yen has declined to around 146 yen against the US dollar, retreating from its seven-month high of 141.68 as the unwinding of popular carry trades slowed while investors continued to assess the divergent monetary policies between Japan and the United States.

The GBP/USD currency pair has seen increased losses since the start of this week, extending its decline to the support level of 1.2662, its lowest in over a month.