Forex Daily Forecast, Analysis and Prediction

The USD/MXN is trading near the 1.36000 ratio as of this writing with rather a quick price movement as the currency pair continues to react to questions regarding fundamental outlooks.

The US dollar has been on the ropes for a while, but over the last week or 2 we have seen it stabilize near the 104 level.

As of this writing Gold is trading near the 1847.00 mark, this after attaining the 1865.00 ratio on early Wednesday.

The USD/CAD has fallen rather hard, losing over 1% for the session.

The silver market has rallied a bit during the trading session on Wednesday, as we continue to struggle with the idea of being above the $24 level.

Gold markets had been forming a bit of a rising wedge, but we’ve broken above the top of it during the session on Wednesday.

The USD/JPY bounced a bit during the trading session on Wednesday, as we continue to see the market trying to defend the ¥130 level.

The AUD/USD shot higher during the trading session on Wednesday but is starting to struggle again, as it looks like we are at the top of the trading range, and the up-trending channel.

The Nifty 50 has pulled back a bit during the trading session on Wednesday to go down to the ₹18,000 level.

The GBP/USD rallied a bit during the trading session on Wednesday to reach the 200-Day EMA.

The EUR/USD has rallied a bit during the trading session on Wednesday, as we await the FOMC Meeting Minutes.

My previous GBP/USD signal on 29th December was not triggered, as there was no bearish price action when the price first reached the resistance level which I had identified at $1.2052.

The EUR/USD exchange rate rose slightly after the relatively encouraging European inflation data and after the latest Fed minutes.

The BTC/USD price held steady slightly below the psychologically important resistance level of 17,000 after the Fed published minutes of the past meeting.

The AUD/USD price drifted downwards after some positive signs about the Australian economy.