Forex Daily Forecast, Analysis and Prediction

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.

The Bitcoin market has initially tried to rally on Tuesday but gave back the gains to form a little bit of a shooting star.

The West Texas Intermediate Crude Oil market broke higher on Tuesday as we have cleared a downtrend line which features itself as being the top of the flag.

The price is trading between $1.3525 and $1.3600.

The EUR/USD pair was in a tight range in the overnight session as investors waited for the closely-watched American inflation numbers.

The BTC/USD price soared to an all-time high of more than $68,000 as demand for Bitcoin rose.

The AUD/USD pair declined to the lowest level since October 13 ahead of the latest US inflation numbers.

The weakness of the US dollar strongly contributed to the increase in the price of gold, reaching the resistance level of $1827 as of this writing.

As I predicted, the USD/JPY is ripe for profit-taking, which is what happened over the last three trading sessions and is settling around 112.72 as of this writing.

With the gains in the US dollar stalled, the GBP/USD found the opportunity to capture some of the gains, which reached 1.3582 as of this writing.