Forex Daily Forecast, Analysis and Prediction

US dollar has been all over the place during the trading session on Wednesday, as the market was awaiting the Federal Reserve statement.

The Euro initially pulled back a bit during the trading session on Wednesday but found enough support underneath to send the market higher.

USDJPY: Ranging between 108.25 and 109.00

Bitcoin: More bearish below $7,131

The West Texas Intermediate Crude Oil market fell during trading on Wednesday, reaching down to the psychologically important $58 level.

Bitcoin has tried to rally slightly during the trading session on Wednesday, but yet again we continue to see a complete lack of interest.

Natural gas markets rallied initially during the trading session on Wednesday, reaching towards the previous uptrend line.

Gold markets will probably stick to consolidating as we await the trade tariff decision on December 15, which is this Sunday.

Ethereum has to deal with more than growing competition from more promising projects like TRON, Tezos, and Binance.

GBPUSD: Pound high on British opinion polls forecasting Govt win

EURUSD: Bullish breakout beyond 1.1113

Today’s Swiss National Bank interest rate announcement is expected to show no change; Switzerland, together with Denmark, is home to the lowest global interest rate at -0.75%.

Economic data out of Japan, in the form of machine orders that plunged in October, disappointed.

Australian consumer inflation expectations for December remained elevated and gave the Reserve Bank of Australia another reason to remain on the sidelines.

For five consecutive trading sessions, the USD/JPY price is trying not to cross the 108.00 psychological support barrier so that the current downside strength does not increase, and the pair settles around 108.76 at the time of writing, and before the announcement of monetary policy decisions from the US central bank.