Forex Daily Forecast, Analysis and Prediction

The S&P 500 went back and forth during the trading session, initially rallying due to the idea that the Americans and the Chinese both are getting ready to cut tariffs

The British pound has fallen a bit during the trading session, after the Monetary Policy Committee surprised traders by having a couple of dissenters suggest

The NASDAQ 100 has initially tried to rally during the trading session on Thursday but has found enough resistance above the 8250 level to turn around and form a massive shooting star.

The Australian dollar initially broke down during the trading session on Thursday but have turned around after headlines came out that the Americans and the Chinese are likely to cut tariffs

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Thursday, as we have recovered all of the losses from the very bearish Wednesday session.

Bitcoin markets have rolled over slightly during the trading session on Thursday, as we continue to grind just below the $10,000 level.

Natural gas markets have been very noisy during the trading session on Thursday, as the inventory figures came out much more bullish than anticipated.

Gold markets got hammer during the trading session on Thursday, as we have broken below the important $1475 level.

After the European Commission lowered its growth forecast for 2019 and 2020 and the IMF issued a warning on the European economy as a whole, the Euro was faced with an accelerated sell-off.

Consumer credit in the US came in well below expectations in September and dropped sharply as compared to August.

Despite the return of the Japanese yen strength against other major currencies, the price of USD/JPY maintained its bullish momentum and losses did not exceed the 108.65 support, and gains this week reached the 109.24 resistance level the highest level in three months.

After the price of gold fell to the $1480 support, the yellow metal is trying to recoup its losses by bouncing back to the $1494 resistance, which is where it is stable at the time of writing.

All traders' focus today will be on the Bank of England's announcement of its monetary policy, especially after the recent and rapid developments of the Brexit process

For four consecutive trading sessions, the EUR/USD is under downward pressure pushing it towards the 1.1055 support, its lowest level in three weeks.

NZDUSD: Weakly bearish below 0.6390