Forex Daily Forecast, Analysis and Prediction

USDJPY: Bullish breakout beyond 110.00 in doubt

Bitcoin: Ranging between $8,893 and $8,546

The Euro broke higher during the trading session on Wednesday, breaking above the 200 day EMA during the course of the session.

The Australian dollar has gone back and forth during the trading session on Wednesday, dipping below the 200 day EMA before turning around to show signs of support.

The US dollar fell a bit during the trading session on Wednesday against the Japanese yen but has recovered a bit to turn around and show signs of life again.

The S&P 500 initially pulled back a bit during the trading session on Wednesday but has rallied again to show that there is a significant amount of buying pressure

The British pound has broken down a bit during the trading session on Wednesday but found support underneath the 50 day EMA yet again to turn around and form a bit of a hammer.

Natural gas markets have pulled back a little bit during the trading session on Wednesday, as the market awaits the inventory figures coming out on Thursday.

The DAX has tried to pull back just a bit during the trading session on Wednesday, as we may have gotten a bit of a stretch.

The West Texas Intermediate Crude Oil market has bounced a bit during the trading session on Wednesday, showing a positive reaction to the $57.50 level.

The gold markets rallied a bit during the trading session on Wednesday, breaking above the top of the hammer from the Tuesday session.

GBPUSD: Looking a little more bearish

With the long-term downtrend in this currency pair intact, supported by fundamental developments, the short-term technical picture suggests a short-covering rally is pending.

Japanese machine orders posted a surprise surge for November, deflating bullish momentum in the CAD/JPY.

Bullish momentum in the ETH/USD is collapsing quickly after this cryptocurrency pair rode a wave of optimism in other assets higher.