Forex Daily Forecast, Analysis and Prediction

The British pound has rallied significantly in the early hours on Wednesday, but now is facing a major resistance barrier against the greenback.

Tuesday’s trading in the USD/PKR produced a low around the 277.9000 ratio briefly.

You can see that we initially pulled back just a bit during the early hours on Wednesday in the British pound against the Swiss franc pair but have also turned around to show signs of life.

The USD/ILS has traded lower and is touching values last seen in early April.

The S&P 500 rallied rather significantly during the course of the session on Wednesday, as we are now threatening to break an all-time high.

Silver initially shot higher during the trading session on Wednesday but has given back quite a bit of the gains as we tried to break out.

The NASDAQ 100 rallied on Wednesday again, as momentum continues to be a major influence in this market.

The US dollar initially trying to rally a bit during the Wednesday session but has since been repudiated by the Mexican peso.

The Parisian CAC initially pulled back during the early hours on Wednesday but has found buyers underneath to turn things around and pressure to the €8,250 level.

The German DAX has rallied again during the trading session on Wednesday, as we continue to make fresh highs every day.

The Swiss franc fell rather hard against the Japanese yen during early trading on Wednesday but has seen a little bit of a push back near the ¥171.50 level.

The Australian dollar shot straight up in the air during the early hours on Wednesday but has given back quite a bit of the gains .

The GBP/USD bullish momentum continued this week as it jumped to its highest swing since April 10th after the mixed US economic reports.

The EUR/USD went parabolic on Wednesday, continuing a bullish trend that started on April 14th.

The price of Bitcoin made a bullish breakout after the soft US inflation numbers sparked a risk-on sentiment in the financial market.