Forex Daily Forecast, Analysis and Prediction

The AUD/USD initially tried to rally during the trading session on Wednesday but gave a gain rather quickly as we continue to see a lot of negativity.

The USD/JPY is trading above the 139.000 level as of this writing.

The GBP/USD continued its bearish trend as the US dollar strength continued and as concerns about the upcoming steep recession in the UK.

The EUR/USD price tilted upwards after the latest European consumer inflation data.

The BTC/USD continued consolidating on Wednesday morning as investors waited for the next catalyst and as the US dollar rose.

My previous signal last Monday was not triggered, as there was no bearish price action the first time the price reached the resistance level which I had identified at 0.6884 that day.

The S&P 500 has previously bounced quite nicely, but it’s obvious that the last couple of weeks of August has seen quite a bit of selling pressure.

The NASDAQ 100 has fallen quite significantly from the 50 Week EMA near the 13,500 level.

Oil markets have rallied during the last couple of weeks in August, breaking the bank of a “falling wedge.

The EUR/USD has been pummeled for the last several months, and the month of August has seen a run down to the parity level again.

The British pound has been shellacked during the month of August, and I suspect that we are getting ready to have a short-term bounce.

September is going to be a huge month for the gold market, because there will be an increase in volume

The EUR/USD reached its lowest levels in the long term last week and will face a battle to hold above a level close to technical support around 0.9911 on the charts in the coming days.

The yellow metal is still trading at its worst level in more than a month after its meteoric rise.

The price of the USD/JPY currency pair is still maintaining its bullish momentum until the US job numbers are announced at the end of the week.