Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market pulled back just a bit on Tuesday, but then showed signs of life again as the 50-day EMA continues to attract a certain amount of trading orders.

The US dollar fluctuated on Tuesday as the 1.26 level continues to offer a lot of interest as far as buying is concerned.

The DAX Index initially rallied to reach towards the 16,000 level before turning right back around to reach towards the 15,800 level.

This is a market that looks as if it is ready to pull back a little bit, but it may just simply be overextended.

The S&P 500 initially tried to rally on Tuesday but turned around to show signs of hesitation.

The euro rallied significantly on Tuesday as we shot straight up in the air due to word that the ECB will consider tapering bond buyback purchases, like the United States.

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

Gold markets fell a bit on Tuesday as we fell towards the 200-day EMA only to turn around and show signs of strength.

The Australian dollar rallied a bit on Tuesday to break above the 0.73 handle.

The Bitcoin market pulled back just a bit on Tuesday as the $50,000 level continues to be a headache for the market.

$46,595 is likely to be today’s pivotal point but already hit.

SafeMoon continues to grab the attention of cryptocurrency speculators as concerns regarding the ‘safety’ of its wagering capabilities storms to new heights.

The AUD/USD price retreated after the US published weak consumer confidence data on Wednesday.

The EUR/USD declined in the overnight session after the relatively weak US consumer confidence data.

Nearby resistance levels look more likely to hold than support.