Forex Daily Forecast, Analysis and Prediction

The British pound rallied a bit on Tuesday but gave back gains to form a shooting star.

This is a market that is all over the place and has no idea what it wants to do next.

The USD/TRY remains a battle of wills and a game of "who do you trust?" via speculative endeavors as a short-term trend higher has emerged.

After touching important support late last week, the USD/ZAR has produced a slight reversal higher which may intrigue speculators.

DOT/USD continues to be a speculative magnet in the cryptocurrency world and in very early trading yesterday an all-time high of nearly 38.0000 was achieved.

Cardano has faced strong headwinds the past handful of days as ADA/USD is hovering near important mid-term support ratios.

The price of gold showed a modest move to the upside during early trading this week amid falling US Treasury yields.

For quite some time, the USD/JPY has been trying to break through the 110.00 resistance level, which is crucial for a bullish performance and to avoid a crash.

At the beginning of this week's trading, the US dollar gained some momentum against the other major currencies.

This week opened like last week closed, as the EUR/USD continued to correct lower towards the 1.1770 support level, the lowest in more than two weeks.

The 0.7350 area may be pivotal today.

The GBP/USD price was little changed in early trading ahead of the important UK jobs and US Consumer Price Index (CPI) data.

The BTC/USD price remained under pressure as demand for the cryptocurrency waned.

The DAX Index rallied on Monday but struggled to stay above the 50-day EMA by the time we closed.

The US dollar has been going sideways against the Norwegian krone over the last couple of weeks.