Forex Daily Forecast, Analysis and Prediction

In my daily analysis of the British pound against the Japanese yen, it's easy to see that we have seen a massive turnaround.

The German DAX has fallen a bit during the early hours on Wednesday, but it does look like we are in the midst of trying to recover.

The British pound has plunged early in the trading session on Wednesday against the Swiss Franc, but we are approaching a major support level.

The Bitcoin market has struggled on Wednesday to maintain any type of momentum.

The Aussie dollar was all over the place during the early hours on Wednesday as we continue to see a lot of volatility.

The performance of the Turkish currency declined against the dollar during the overall trading of the current week.

Natural gas markets plunged during the early hours on Wednesday.

The trading week was broadly positive for the Euro against the US Dollar (EUR/USD).

GBP/USD broke through the psychological resistance level of 1.3000, extending gains to 1.3044 and remaining close to its highest level in a year.

The yen rose 1.5% to above 155.5 against the dollar today, its highest level in over a month.

Gold hit a new all-time high as it moved towards the $2,483 resistance level per ounce, with gains driven by growing optimism that the Federal Reserve will cut US interest rates as early as September.

After dropping quite strongly earlier this week on questionable risk sentiment and a strong US Dollar, the price now seems to have bottomed out from the support level at $0.6721. Higher prices are likely today if the price holds up above $0.6732.

I can see that the USD/CAD pair looks like it is ready to continue rallying, as the US dollar is likely to continue to attract a lot of attention.

I continue to pay close attention to the 1.34 SGD level.

I recognize that we have recently bounced from a major support level in the form of the 0.6050 level.