Forex Daily Forecast, Analysis and Prediction

The Euro rallied again during the trading session on Wednesday, as we have tested the top of the inverted hammer from the trading session on Tuesday.

The US dollar has rallied a bit during the trading session again on Wednesday, as the Japanese yen loses a bit of its potency.

Bitcoin rallied a bit during the trading session on Wednesday as we recovered a bit from the massive selloff on Tuesday.

The West Texas Intermediate Crude Oil market rallied slightly during the trading session on Wednesday, as we continue to see a lot of momentum to the upside.

The Australian dollar initially pulled back a bit during the trading session on Wednesday but found enough support near the 0.71 level to turn around and rally quite nicely.

For four trading sessions in a row, the EUR/USD pair was in a downward correction range that pushed it towards the 1.1710 support at the time of writing.

UK employment data is the first of two major economic releases due this week, and interest is likely to wane when the GDP statistics are released today.

Gold futures ended yesterday's trading sharply lower in light of riskier assets’ recovery, such as stocks.

Ahead of the announcement of the important consumption figures to measure the US inflation, the USD/JPY is moving in a cautious upward correction that pushed it towards the 106.79 resistance in Wednesday morning trading.

Restrictions implemented to slow the spread of the Covid-19 pandemic continue to be eased, as Canada has a relatively low daily infection count.

Bitcoin/USD: The beginning of bearish correction.

USD/JPY: Trend reversal starts.

AUD/USD: Monitoring tensions with China.

GBP/USD: A correction awaits momentum.

EUR/USD: An imminent shift of trend.