Forex Daily Forecast, Analysis and Prediction

The gold markets initially shot higher but saw quite a bit of selling pressure to turn things around and form a shooting star yet again.

The Australian dollar rallied a bit on Tuesday but gave back the gains to form a bit of a shooting star yet again.

Bitcoin markets pulled back just a bit on Tuesday to show hesitation, which is a good thing considering we have been so parabolic recently.

The S&P 500 pulled back just a bit on Tuesday, but then turned around to show signs of life again in order to form a hammer.

The NASDAQ 100 was trying to rally on Tuesday but continues to slump as the markets are starting to be concerned about inflation and other such situations globally.

The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level.

The Canadian dollar fluctuated on Tuesday, sitting just below the 1.25 handle.

The FTSE 100 initially pulled back on Tuesday but found enough support at the 50-day EMA to show signs of life again.

The euro continues to drift lower as it initially tried to rally but then gave back those gains to reach towards the 1.15 level.

The British pound rallied during the early hours on Tuesday, but as you can see, has given back quite a bit of the gains to show signs of exhaustion.

The British pound is showing minor relative strength.

The AUD/USD price held steady as investors priced in a strong economic rebound for the Australian economy.

The EUR/USD price made a bearish breakout on Tuesday as investors focused on the upcoming inflation data from the United States.

The GBP/USD tried to complete the upward recovery path from the end of last week’s trading, reaching the resistance level 1.3673.

The EUR/USD has remained stable under downward pressure around the 1.1550, its lowest support in months.