Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market broke down a bit during the trading session on Wednesday, slicing through a significant area of support at the $62.25 level.

The euro fell a bit during the trading session on Wednesday to reach down towards the one point to zero level, where it turned around promptly and formed a hammer.

The British pound pulled back initially during the trading session on Wednesday against the US dollar, but then turned around to show signs of strength.

The NASDAQ 100 has rallied significantly during the course of the trading session on Wednesday to reach towards the 13,915 handle.

The S&P 500 rallied significantly to wipe out all of the losses from the previous session, as traders came in to pick up the market on Wednesday and shake off any concern seen in the previous 24 hours.

The DAX broke down a bit during the trading session on Wednesday but then turned around to show signs of strength again.

The FTSE 100 initially fell during the trading session on Wednesday to reach down towards the 6800 level.

The gold market rallied a bit during the trading session on Wednesday to pierce the 200-day EMA, but did pull back just a bit towards the end of the session.

The Australian dollar initially dipped during the trading session on Wednesday but then turned around to show signs of strength again.

The Bitcoin market initially fell during the trading session on Wednesday, reaching down below the 50-day EMA yet again.

The GBP/USD has bounced back from its lowest level yesterday as the market reflects on the recent data from the UK.

The BTC/USD pair is under pressure as sentiment in cryptocurrencies soar.

Direction in the Forex market looks unclear.

Good buying opportunities remain below the current price level.

The USD/JPY's continued bearish performance pushed it towards the 107.87 support, a near 2-month high, before settling around the 108.25 level as of this writing.