Forex Daily Forecast, Analysis and Prediction

Sterling pairs are awaiting the Bank of England monetary policy decisions today.

As we expected, the single European currency will continue to face pressures due to markets' doubts about the possibility of passing stimulus plans by the European Union leaders, and this situation negatively affects any EUR/USD.

AUD/USD: 0.6841 remains pivotal

The British pound fell initially during the trading session on Wednesday, as we have seen a bit of a “risk off” move early in the day but was turned around as we are close to a significant support level.

The Euro looks as if it may try to rally a bit from this general vicinity, but as you can see on the last couple of candlesticks, we have had sellers above.

The NASDAQ 100 has rallied again during the trading session on Wednesday, breaking above the 10,000 level during the day.

The US dollar has initially tried to break above the ¥107.50 level but then pulled back a bit to show signs of exhaustion.

USD/JPY: New resistance level near round number at 107.00

The S&P 500 has tried to rally during the trading session on Wednesday, but as you can see gave up quite a bit of the gains as we continue to see resistance just above.

The Australian dollar has initially fallen during the trading session on Wednesday, but then found buyers underneath the turn the whole thing around.

The USD/ARS continues to be a forex pair with a seemingly one-way direction.

BTC/USD: Weakly bearish

GBP/USD: British Pound relatively weak

The Brazilian Real remains within an opportunistic trading range for nimble traders who have the ability for solid entry points and are capable of using take profits and stop losses.

Germany implemented a nationwide lockdown in response to the Covid-19 pandemic in March.