Forex Daily Forecast, Analysis and Prediction

The USD/INR is challenging long-term support levels, but as lows get tested, volatility has increased with swift and frequent reversals.

The US dollar was negatively affected by the Federal Reserve's monetary policy decision and the statements of Chairman Powell, which contributed to an upward rebound for gold.

Following the US Federal Reserve's policy decision, the GBP/USD pair is now awaiting the Bank of England's announcement of its monetary policy decisions.

The USD/JPY currency pair has given up some of its recent gains which reached the 109.36 resistance level, the pair's 9-month high.

The EUR/USD has continued its downward correction, reaching the 1.1886 support level, near its lowest level in nearly four months.

The West Texas Intermediate Crude Oil market dipped during the trading session on Wednesday only to turn around and show signs of life again.

The euro rallied a bit during the trading session on Wednesday again as we have shown further US dollar weakness after the FOMC meeting.

The British pound has initially fallen during the trading session on Wednesday to dip below the uptrend line that has been such a staple of the bullish run higher.

The NASDAQ 100 initially pulled back during the session on Wednesday to reach down towards the 50-day EMA at the 13,000 level to turn around and show signs of strength.

The S&P 500 initially pulled back during the trading session on Wednesday only to turn around and show signs of strength.

The US dollar initially tried to rally during the trading session on Wednesday but gave back the gains after the FOMC statement came out and suggested that we will continue to see a lot of negativity.

Aussie boosted by very strong employment data.

Yet a double top has formed just below 1.2000.

The FTSE 100 pulled back slightly during the trading session on Wednesday only to find buyers again to push towards the same 6800 resistance barrier.

The DAX Index rallied during the trading session on Wednesday as we continue to see the same channel keep the market somewhat constrained.