Forex Daily Forecast, Analysis and Prediction

Bitcoin markets have done very little over the last several days, simply following the 50 day EMA.

The S&P 500 is likely to bounce around during the Federal Reserve interest rate announcement on Wedsday, which will determine where we go next.

Bitcoin: Resistance confluence at $10,440 looks strong

Gold paused its strong rally after positive developments in regards to the US-China trade war prompted a delay in fresh tariffs as well as the temporary exemption on certain items.

The US Federal Reserve will announce its interest rate decision today and markets expect a 25 basis point interest rate cut to a range between 1.75% and 2.00%.

After the UK Parliament removed a no deal option from Brexit negotiations for the time being, the British Pound rallied sharply against the Euro which retraced the preceding rally.

The strong rally in the AUD/CHF, which originated from its intra-day low of 0.64933, is now exhausted and a sideways trend started inside of its resistance zone.

USDCAD: Weakly bullish from 1.3236

USDCHF Analysis: Room to rise but choppy

GBPUSD: Bulls challenging key 1.2500 area

EURUSD: Choppy consolidation above 1.1000 area

USDJPY: Strong resistance from 108.43 to 109.00

NZDUSD: Bearish move may complete soon

At the start of the week, ETH/USD opened with a gap to the upside which took price action above its 61.8 Fibonacci Retracement Fan Resistance Level.

AUDUSD: More bearish below 0.6850