Forex Daily Forecast, Analysis and Prediction

The Euro initially fell during the trading session on Wednesday but found enough support just above the 1.11 level to turn things around and form a bit of a hammer.

The US dollar initially fell during the trading session on Wednesday but found enough support near the ¥108.25 level to turn things around and form a bit of a hammer.

The S&P 500 continues to struggle overall, as although we haven’t broken down, we simply can’t get anywhere to the upside.

The Australian dollar has initially fallen during the trading session on Wednesday, reaching down towards the 0.68 level before turning around to show signs of life again.

The NASDAQ 100 initially pulled back in trading on Wednesday, testing the 50-day EMA.

Gold markets have been grinding back and forth for the last couple of weeks, forming a bit of a triangle.

Bitcoin markets fell again during the trading session on Wednesday, as we continue to see a lot of negativity in the crypto markets.

The US dollar has initially tried to rally during the trading session on Wednesday, but then pulled back against the Mexican peso again.

USDCAD: Bearish but support closer to 1.3000 area

USDCHF Analysis: Little price movement

GBPUSD: Consolidating on Brexit uncertainty

As the aftermath of Monday’s Canadian election results, which left incumbent PM Trudeau with a minority government, the Canadian Dollar remain resilient

The Euro will have a very important economic day today with the release of a series of PMI reports and the last ECB meeting chaired by outgoing President Draghi who will leave the central bank more divided than ever.

A breakout above its short-term resistance zone was not sustained and the AUD/NZD quickly reversed back into its support zone from where the advance originated.

EURUSD: Weakly bullish above 1.1107