Forex Daily Forecast, Analysis and Prediction

The GBP/USD has seen a swift selloff take place and the Forex pair is now traversing values not seen since the second week of January 2021.

The USD/ZAR remains within the upper realms of its bullish run, but an apparent short-term inability to climb higher may entice skeptical bearish speculators.

Gold remains near important support in early trading today, but unfortunately for bullish speculators, the lower price levels have proven rather vulnerable short term.

Silver is languishing near long-term lows, and traders who have a bullish perspective regarding the commodity may need to readjust their goals and timeframes.

The West Texas Intermediate Crude Oil market initially shot higher on Tuesday, only to turn around and show signs of exhaustion.

The DAX fell rather significantly on Tuesday to reach down towards the 15,225 level.

The euro fell again on Tuesday as we continue to see a lot of downward pressure.

The British pound broke down significantly on Tuesday to slice through the 1.36 handle.

The Australian dollar initially tried to rally on Tuesday but gave back gains as we continue to threaten the 0.73 handle.

Gold markets broke down a bit on Tuesday to slice through the $1740 region, an area that has been supportive for a while.

Bitcoin markets initially tried to rally on Tuesday but then gave back gains yet again to show signs of exhaustion.

The S&P 500 fell significantly on Tuesday as we continue to test the downside based upon fear and interest rates rising in the United States.

The NASDAQ 100 fell rather hard on Tuesday to reach down and break the bottom of the lows from last week.

The US dollar rallied against the Canadian dollar on Tuesday to break towards the 1.37 handle, and as a result it is likely that we will continue to see this market hang in the same consolidation and grind a bit higher.

$42,663 looks likely to be today’s pivotal point.