Forex Daily Forecast, Analysis and Prediction

The British pound pulled back a bit on Tuesday to show signs of exhaustion and the 1.26 level.

The GBP/USD pair held steady as the US dollar continued its bearish momentum.

The EUR/USD pair continued its recovery trend after the relatively weak US housing data and hawkish statement by Christine Lagarde.

The AUD/USD pair moved sideways as Wall Street investors started warning about the Chinese economy.

Coinciding with the beginning of this week's trading, forex currency traders noticed an upward rebound in the price of the euro currency pair against the US dollar, EUR/USD.

For three trading sessions in a row, gold prices continued to rise with gains to the resistance level of 1865 dollars an ounce and settled around the level of 1853 dollars an ounce.

Since last Friday's trading session, the price of the USD/JPY currency pair has been moving in narrow ranges with a bearish slope between the support level 127.14 and the level of 128.30

GBP/USD has rebounded sharply from two-year lows after a positive turn in UK economic data and a rebound in Chinese renminbi sold heavily.

The Turkish lira's trading collapsed against the US dollar after a report issued by the Central Bank of Turkey, which showed poor expectations for inflation and the price of the lira by the end of this year.

Spot natural gas prices (CFDS ON NATURAL GAS) rose in their recent trading at the intraday levels, to achieve slight daily gains until the moment of writing this report, by 0.88%.

The Dow Jones Industrial Average rebounded, rising during its recent trading at intraday levels, to achieve sharp gains in its last sessions, by 1.98%, to add to it about 618.34 points.

XRP/USD has moved lower and is above strategic support ratios, which if proven weak could spark additional nervous selling for the digital asset.

ADA/USD is near important support in early trading this morning, as a reversal produced late on Monday reminded crypto traders a bearish storm still exists.

The BTC/USD pair is still in a consolidation mode in the past few days as demand for digital coins ease.

Gold markets initially tried to rally on Monday but then turned around to show signs of weakness.