Forex Daily Forecast, Analysis and Prediction

After a growing number of countries believe they have either reached the peak of the global Covid-19 pandemic or are very close to it, markets are now digesting news

For the seventh consecutive day, the USD/JPY pair stabilizes in a limited movement range that threatens a strong movement coming in one of two directions, and the downward trend remains the closest opportunity to get support from the next move.

AUD/USD: Support at 0.6327

USD/JPY: Both currencies moving together

I mentioned in recent technical analyzes that gold price is still in a stronger upward trend and that any decline in prices is only an opportunity to reap profits and return to buying gold again.

BTC/USD: Consolidating between $7,200 and $6,924

The British pound had rallied a bit during the trading session initially on Wednesday but turned around to show signs of exhaustion.

The Euro initially tried to rally during the trading session on Wednesday but found enough resistance just below the 1.09 level to rollover

The Australian dollar rallied a bit during the trading session on Wednesday, reaching towards the 50 day EMA where there has been selling pressure.

The EUR/USD pair is still trying hard to avoid moving below the 1.0800 psychological support so as not to have more selling on the pair.

The US dollar has gone back and forth during the trading session on Wednesday, as we continue to grind just below the ¥108 level.

The NASDAQ 100 is likely to see a bit of trouble just above, although we may have a little bit of upward pressure in the short term.

The S&P 500 bounced significantly during the trading session on Wednesday as the market has started to focus on the possibility of everything being awesome again

GBP/USD: Support at 1.2252 looks strong

EUR/USD: Euro is relatively weak