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Forex Daily Analysis and Prediction- Forex Daily Forecast
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Forex Daily Forecast, Analysis and Prediction
The US Federal Reserve's last meeting minutes and US job numbers announcement are the most important events for the Forex currency market in general and for the US dollar in particular this week.
With the return of the US dollar from the Independence Day holiday, it completed the path of its sharp gains against the rest of the other major currencies.
The euro fell to its lowest level since 2002 against the dollar, and it is falling against the pound sterling and other major currencies.
The USD/INR pair continued its bullish trend and is hovering near its all-time high.
The NZD/USD pair has been in a strong bearish trend as investors embrace a risk-off sentiment.
The bullish chart pattern is facing resistance at $20,516.
The US dollar broke higher on Tuesday to test the top of a major channel.
The US dollar broke through significant resistance near the 16.40 level.
The US dollar rallied significantly on Tuesday to show strength yet again against emerging market currencies, in this case, the Brazilian real.
The S&P 500 was all over the place on Tuesday as it looks like traders are trying to figure out what to do with themselves.
The West Texas Intermediate Crude Oil market fell hard on Tuesday as traders came back from holiday in America.
Ethereum fell again on Tuesday as we continue to see a lot of negativity in crypto markets.
EUR/USD Forecast: Price Breaks Through Major SupportThe euro got absolutely clobbered on Tuesday, as we have broken through the 1.04 level quite handily.
The British pound fell rather hard on Tuesday to slice through the 1.20 level.
The DAX pierced support Tuesday as we continue to see a lot of negativity.