Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 has initially gotten hammered during the trading session on Wednesday but turned around to show signs of strength as we continue to see the overall uptrend take over.

The Euro initially tried to rally initially during the trading session on Wednesday, but then broke down a bit from there to reach towards the 1.11 level underneath.

The British pound has initially gone to the upside during the trading session on Wednesday, but then turned around to show signs of exhaustion.

The Australian dollar has gone back and forth during the trading session on Wednesday, as we continue to hang around the 50 day EMA.

The West Texas Intermediate Crude Oil market has originally rallied during the trading session on Wednesday.

Bitcoin: Deeper bearish retracement

The natural gas markets initially tried to rally during the trading session on Wednesday, reaching towards the $2.20 level before pulling back to show signs of exhaustion.

GBPUSD: Ranging between 1.3050 and 1.3200

Gold markets initially shot straight through the roof based upon the Iranians sending a dozen or so missiles at US bases in Iraq.

Bitcoin initially shot higher during the trading session on Wednesday, reaching towards the trendline marked on the chart and looking very much like a market that was trying to break out.

After the GBP/SGD completed a breakout above its support zone, the downtrend ended.

Following a price spike in this currency pair, which led to a brief move above its short-term resistance zone, a bearish chart pattern emerged.

Eurozone economic data, led by Germany, continues to show structural weakness.

Tensions between the US and Iran appear to be easing for now, and traders will be able to pay closer attention to fundamentals.

EURUSD: Weakly bearish below @1.1128