Forex Daily Forecast, Analysis and Prediction

The Bitcoin market rallied yet again on Wednesday as we continue to undulate back and forth in the same consolidation area just below the $50K level.

The US dollar initially tried to rally on Wednesday but then turned around to show signs of weakness yet again.

Gold markets fluctuated on Wednesday as we hang about just below the significant resistance zone that extends from $1825 to the level of $1835.

The BTC/USD price bounced back in the overnight session as demand for cryptocurrencies bounced back.

The GBP/USD darted higher after the relatively mixed economic data from the UK and the US.

Gold has spent the last week of trading hovering below important one-month highs and its consolidation may signal more volatility is about to develop.

The AUD/JPY has continued to add fuel to its bullish move which was initiated on the 20th of August and speculators may be starting to believe higher values can be attained.

Cardano has surged higher since the 19th of August and its ability to stay near its record all-time values may entice more speculation.

The USD/INR has produced a violent bearish selling cycle and has brushed aside many support levels as speculators wonder what will happen next.

After reaching the psychological resistance of $1800, which gives the bulls the impetus to move higher, gold's gains continued to the resistance level of $1823 before settling around $1813 as of this writing.

The markets are awaiting the US job numbers, which may confirm Fed Chairman Jerome Powell's recent warning, or support expectations of a tightening of the bank's policy.

Weak investor sentiment and anxiety in the financial markets will not support long-term gains for the British pound against the rest of the other major currencies.

The EUR/USD's recent gains from its bullish rebound stopped at the 1.1845 resistance level and settled around 1.1796 as of this writing.

The West Texas Intermediate Crude Oil market pulled back just a bit on Tuesday, but then showed signs of life again as the 50-day EMA continues to attract a certain amount of trading orders.

The US dollar fluctuated on Tuesday as the 1.26 level continues to offer a lot of interest as far as buying is concerned.