Forex Daily Forecast, Analysis and Prediction

The Bitcoin market rallied on Tuesday, something that it has been struggling to do over the last several sessions.

The gold markets fell a bit on Tuesday to pierce the support region that I have marked on the chart.

The West Texas Intermediate Crude Oil market rallied a bit on Tuesday but pulled back to show signs of exhaustion.

The US dollar went back and forth during a choppy trading session on Tuesday as we continue to hang around the 1.26 level.

The DAX gapped lower to kick off the trading session on Tuesday but then turned around to show quite a bit of strength.

The S&P 500 initially pulled back on Tuesday but found enough buyers to turn around and break out above the 4500 level in the futures market.

The euro fell a bit on Tuesday, only to find buyers and form a bit of a hammer.

The New Zealand dollar broke higher on Tuesday to break above the top of a shooting star from the previous session.

The GBP/USD pair jumped to the highest point since March 4th as the US dollar retreated ahead of the upcoming UK consumer inflation data.

The BTC/USD pair held steady on Tuesday and in the overnight session even after the hawkish Fed chair statement.

The AUD/USD pair rose to the highest level since November 4 2021 even after the hawkish statement by Jerome Powell.

The EUR/USD exchange rate recovered more than last week from two-year lows, but with multiple layers of resistance looming on the charts

The price of gold remained in a state of stability, heading to the upside, despite more hawkish hints by US Central Bank Governor Jerome Powell towards the future of raising US interest rates during 2022.

More hawkish hints of the future policy of the US Federal Reserve were a determining factor for further gains of the US dollar against other major currencies.

During last week's trading the GBP/USD exchange rate has smartly rebounded from three-month lows.