Forex Daily Forecast, Analysis and Prediction

Since the start of this week's trading, the price of the GBP/USD currency pair has been trying to hold firm in the face of the strength of the US dollar.

For three trading sessions in a row, the XAU/USD gold price moved upwards, with gains that reached the $1922 resistance level, its highest in two weeks.

In the recent span of 24 hours, the British pound has been met with a notable wave of negativity, particularly following the release of PMI figures from the United Kingdom that fell considerably short of expectations.

For three trading sessions in a row, the price of the USD/JPY currency pair is exposed to profit-taking sale.

After touching a low of nearly 25,350.00 on Tuesday and exhibiting a strong hint of price velocity, BTC/USD has managed to produce a reversal higher in the past day and a half.

The USD/TRY is trading near record high values, but its speculative landscape has changed the past two months and day traders need to understand the dynamics.

Silver experienced a noteworthy rally during Wednesday's trading session, displaying indications of a breakthrough past the 50-Day Exponential Moving Average.

The GBP/JPY faced substantial losses against the Japanese yen during Wednesday's trading session, reflecting the ongoing high volatility within the Forex markets.

Wednesday's trading in the natural gas markets witnessed minimal movement, with prices holding steady in proximity to the 50-day Exponential Moving Average.

The NASDAQ 100 has rallied significantly during the trading session on Wednesday as the PMI numbers in the European Union, the United Kingdom, and of course the United States all disappointed, suggesting that we were going to see a bit of contraction.

In the world of currency trading, Wednesday brought about an impressive rally for the AUD/USD, as it managed to rebound from its position at 0.64.

The GBP/USD pair retreated to the important support at 1.2618 and then bounced back during the American session.

The EUR/USD pair dropped to the lowest level since June 14th and then quickly rebounded after the relatively weaker US flash PMI numbers.

The BTC/USD pair joined US equities and bonds in a strong rebound on Wednesday as investors embraced a risk-on sentiment.

The Australian dollar bounced back against the US dollar as traders embraced a risk-on sentiment ahead of the Jackson Hole summit.