Forex Daily Forecast, Analysis and Prediction

The USD/INR continues to show more bearish sentiment as important short-term support ratios are within sight which may attract speculators.

The USD/SGD has produced a bearish reversal the past two days after the Forex pair was not able to maintain its higher values above the 1.36000 ratio.

Buyers shying away from the US dollar and the rapid spread of the Delta variant contributed to a strong bullish momentum for gold.

The USD/JPY has been moving in a narrow range, with markets and investors awaiting the Jackson Hole Symposium.

With buyers shying away from the US dollar until the Jackson Hole Symposium, the GBP/USD failed to move past the 1.3747 level and settled around 1.3715 as of this writing.

The EUR/USD has been trying to correct upwards, but its gains did not break through the 1.1765 level, instead settling around 1.1740 as of this writing.

The short-term price direction is hard to predict from this price zone.

The DAX rallied again on Tuesday to show signs of continuation to the upside.

The FTSE 100 initially fell on Tuesday but then turned around to show signs of strength again as the 50-day EMA offered support.

The West Texas Intermediate Crude Oil market powered higher on Tuesday as we continue to see a massive recovery in this market.

The S&P 500 rallied a bit on Tuesday as it looks like we are hell-bent on trying to break through the 4500 level.

The NASDAQ 100 rallied a little bit on Tuesday as we continue to see a lot of bullish momentum.

The gold markets did very little during the trading session on Tuesday as we approached the 200-day EMA.

The Australian dollar rallied a bit on Tuesday as we reached towards the 0.7250 level.

Bitcoin markets pulled back a bit on Tuesday as the $50,000 level has caused some resistance.