Forex Daily Forecast, Analysis and Prediction

The Japanese yen is stable against many major currencies, including the US dollar and the euro.

Investors bought the British pound again, and the GBP/USD moved towards the 1.3607 resistance level yesterday before settling around 1.3550 as of this writing.

With the US dollar's gains stalled, the EUR/USD rebounded higher, but the gains did not exceed the 1.1608 level and the pair settled around 1.1582 as of this writing.

The British pound went back and forth on Tuesday as we continue to see a lot of volatility.

The euro went back and forth on Tuesday, to test the 1.16 level yet again.

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.