Forex Daily Forecast, Analysis and Prediction

The Australian dollar went back and forth on Tuesday as we continue to see this market as one that favors the downside, but we may be a little overdone in the short term.

Bitcoin markets rallied just a bit on Tuesday to show a continuation of the overall consolidation that we have been in over the last couple of days.

The euro initially tried to rally on Tuesday but gave back gains rather quickly.

The British pound fell again on Tuesday as we broke down significantly below the 1.34 handle.

The AUD/USD pair has been in a major bearish trend recently.

The EUR/USD was little changed in the overnight session as investors reacted to the strong European business activity data.

The BTC/USD pair has been under pressure in the past few days as investors brace for more supplies as Mt. Gox victims start receiving their payments.

The USD/JPY touched long-term highs in early trading today near the 115.150 ratio, essentially testing levels not seen since March 2017.

AVAX/USD has come off all-time highs achieved only two days ago, but Avalanche has remained rather firm as it flirts with its upper price realm.

Gold is about to collapse as the US dollar rises, with Federal Reserve Chairman Jerome Powell getting another term as head of the world's most powerful financial institution.

The USD/JPY continued its upward momentum to the 115.14 resistance level, its highest in five years, where it settled as of this writing.

Although Britain did not announce COVID restrictions like the rest of the European countries the pound was affected by concern about new lockdowns in Europe.

European COVID restrictions continue to hurt the euro, and accordingly, the bearish pressure for the EUR/USD continued.

Key support levels above 0.7150 are coming into sight.

The US dollar pulled back just a bit on Monday, but as you can see, we have turned around to show signs of strength again.