Forex Daily Forecast, Analysis and Prediction

The Australian index has rallied rather significantly during the trading session here on Wednesday, gaining almost 2%, and at one point, actually did gain over 2%.

The New Zealand dollar has exploded to the upside showing signs of strength yet again during the trading session on Wednesday mirroring what we saw on Tuesday.

Intriguingly the currency pair has touched a high around 278.7755 mark earlier today, which is a value that had last been seen since the 12th of July.

It's easy to see that the 1.13 level is an area that a lot of people are paying attention to.

Bank of Japan did in fact raise interest rates.

In my daily analysis of the pound, I recognize that we did see a little bit of selling pressure across the board, and part of that might be due to the fact that the Bank of England has an interest rate decision on Thursday.

I recognize immediately that we have bounced from the bottom of the symmetrical triangle.

The DAX rallied a bit during the early hours on Wednesday as we are trying to reach towards the 18,650 euro level.

It's easy to see that we are bullish in the early hours.

It's easy to see that there's been a lot of selling pressure.

The GBP/USD exchange rate rose slightly after the July ADP nonfarm private payroll data and the Federal Reserve interest rate decision.

The EUR/USD pair wavered after the flash European inflation data and the relatively dovish Federal Reserve interest rate decision.

The AUD/USD exchange rate dropped to its lowest point since May 1st and then bounced back.

Bitcoin has continued to fall despite generally bullish stock markets, suggesting a weakness in the cryptocurrency. However, it may have found support earlier today at $63,613.

Today, the Japanese yen traded around 151.70 yen to the dollar after experiencing sharp swings earlier in the session as the Bank of Japan raised interest rates to 0.25%