Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair declined for three consecutive days as investors reflect on the fast-rising American inflation and the relatively weak Australian jobs numbers.

The USD/INR has continued to show signs of bearish movement, but has seen reversals higher when important support levels have been tested.

Six-month charts will be looked at by many gold speculators as the day begins and the precious metal finds itself near important mid-term resistance.

The weakness of the US dollar strongly contributed to the increase in the price of gold, reaching the $1827 resistance as of this writing, a 2-month high.

The Japanese yen is stable against many major currencies, including the US dollar and the euro.

Investors bought the British pound again, and the GBP/USD moved towards the 1.3607 resistance level yesterday before settling around 1.3550 as of this writing.

With the US dollar's gains stalled, the EUR/USD rebounded higher, but the gains did not exceed the 1.1608 level and the pair settled around 1.1582 as of this writing.

The British pound went back and forth on Tuesday as we continue to see a lot of volatility.

The euro went back and forth on Tuesday, to test the 1.16 level yet again.

The CAC 40 Index went back and forth on Tuesday to show a little bit of hesitation at these extreme highs.

The S&P 500 pulled back just a bit on Tuesday as we may have gotten a bit over-extended finally.

The NASDAQ 100 initially shot higher on Tuesday but gave back gains in order to show signs of exhaustion.

The US dollar fell against the Brazilian real on Tuesday to reach towards the 5.48 BRL level, an area that is backed up by previous buying, and a couple of other things at the same time.

Gold markets initially pulled back just a bit on Tuesday only to turn around and show signs of life again.

The Ethereum market did rally initially on Tuesday, chasing the $4800 level.