Forex Daily Forecast, Analysis and Prediction

The Australian dollar went back and forth during the trading session on Wednesday as we had broken above the 0.69 level.

The Euro initially fell during the trading session on Wednesday, but then shot straight up in the air only to pull back yet again.

AUD/USD: Resistance at 0.6939 holding

The NASDAQ 100 initially dropped a bit during the trading session on Wednesday, but then turned around to show signs of life again.

The US dollar initially tried to rally during the trading session on Wednesday but found the 200 day EMA to be a bit overly resistive to continue going higher.

USD/JPY: Narrow range between 107.36 and 107.58

The S&P 500 initially dipped during the trading session on Wednesday but found buyers underneath the turn things back around to break above the 3100 level.

BTC/USD: Awaiting breakout from $9,304 - $9,015 range

The British pound has rallied quite significantly yet again on Wednesday, as we have seen quite a bit of buying pressure to slice through the 50 day EMA.

Argentina’s economy collapsed 17.5% in April as compared to March, and 26.4% year-over-year.

GBP/USD: Bearish inflection point at 1.2537

EUR/USD: Medium-term consolidation pattern dominates

Brazil’s Ministry of Economy announced 331,901 formal job losses in May, adding to the devastating blow the Covid-19 pandemic has on the economy.

South Africa’s economy delivered the third consecutive quarterly contraction.

Bears are in control of the USD/INR, with this technical indicator contracting deeper into negative territory.