Forex Daily Forecast, Analysis and Prediction

Pressure on the US dollar against other major currencies increased after the Federal Reserve announced yesterday a cut in US interest rates for the third time in 2019.

There is no doubt that the US dollar weakness is a good opportunity for the gold prices rise

USD/JPY fell from the 109.28 resistance, the highest in three months, before settling around 108.60 at the time of writing, after the US dollar came under pressure

NZDUSD: Ranging between 0.6315 to 0.6452

AUDUSD: Bulls likely to keep upper hand

USDJPY: Major bearish reversal from 109.00

The US dollar rallied significantly during the trading session on Wednesday against the Japanese yen but turned around at the 61.8% Fibonacci retracement level

The Euro initially fell during the trading session on Wednesday, but found support of the 1.1075 level again, rallying quite significantly to reach the 1.1150 level.

The British pound initially dipped on Wednesday, but then shot higher later in the day.

The Australian dollar initially fell during the trading session on Wednesday but has turned around to show signs of strength again.

NASDAQ 100 traders initially sold off during the early part of the session, but the 8000 level has offered a significant amount of support.

Bitcoin had a wild week which started with its 4th best daily performance and a price surge of over 42%

UK Prime Minister Johnson received support for a December 12th 2019 election as the main opposition party, the Labour Party, dropped its opposition to the snap election.

After the Bank of Canada kept interest rates unchanged at 1.75%, the Canadian Dollar plunged as the central bank suggested that an interest rate cut is coming.

New all-time highs in US equity market after the US Fed cut interest rates as expected, but signalled that a pause is next, extended the risk-on mood across financial markets.