Forex Daily Forecast, Analysis and Prediction

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.

The USD/TRY rose slightly, as the pair moved towards its highest levels ever, with continued pressure on the Turkish currency and stock markets in the country after the latest measures of the Turkish Central Bank.

Lows continue to be tested within the NZD/USD as fragile global sentiment continues to keep the USD stronger against most major currencies, as speculators look for opportunities.

At the beginning of trading this week the EUR/USD exchange rate found support above its lows in July.

The continued discrepancy between the aggressive policy of the US Federal Reserve and the Bank of Japan, which has negative interest rates, will support the survival of the bullish trend of the dollar pair against the Japanese yen.

The exchange rate of the British pound against the US dollar, GBP/USD, traded buoyantly above its recent lows yesterday, after entering the new week's trading in full swing.

The USD/BRL produced a gap lower upon opening after the weekend; the lows created early yesterday were sustained too, creating technical interest for today.

The price of gold continued its downward trend since the beginning of trading this week, in addition to the turmoil in the bond market.

In Tuesday's trading session, the Euro showed some resilience, managing to climb past the 1.09 mark, only to stumble a bit later on.

During this past Tuesday's trading session, the S&P 500 exhibited a modest rally, deftly surpassing the upper echelon of the hammer pattern that had taken form on the preceding Friday.

The AUD/USD had a bit of a dip in its value during the trading session on Thursday.