Forex Daily Forecast, Analysis and Prediction

The USD/ZAR has moved lower in early trading, and the velocity of bearish momentum has produced a technical breakout which is intriguing.

The USD/INR continues to demonstrate a solid bearish trend and, in early trading this morning, the Forex pair has experienced more selling.

The USD/SGD has entered a dangerous support range which has produced choppy conditions the past handful of months.

The West Texas Intermediate Crude Oil market fluctuated during the trading session on Wednesday, as we continue to press the top of a major ascending triangle.

The US dollar rallied significantly during the trading session on Wednesday as we continue to look at the 1.20 level underneath as significant support.

We did bounce just a bit from the lows of the day, so it is likely that we will continue to go much higher.

With this lack of momentum, the old adage “sell in May and go away” comes to mind.

The NASDAQ 100 rallied ever so slightly during the trading session on Wednesday, as we have essentially run out of momentum.

The markets are lacking clear direction right now.

The euro broke down a bit during the trading session on Wednesday as we continue to see a lot of selling pressure just above.

The British pound initially rallied during the trading session on Wednesday, but gave back the gains to turn around and show hesitation again as the 1.42 level continues to offer significant issues for buyers to overcome.

We have turned around to show signs of weakness and ended up forming a bit of a shooting star.

The market will probably find reasons to go back and forth until we get some type of certainty.

The Bitcoin market rallied a bit during the trading session, but still struggles to get above the $40,000 level.

If the price does not rebound to 1.2250, the technical picture will become more bearish.