Forex Daily Forecast, Analysis and Prediction

The US dollar fell a bit on Tuesday to reach down towards the 1.23 handle.

The DAX Index was relatively quiet on Tuesday, reaching down towards the 50-day EMA in order to show signs of support.

The S&P 500 rallied a bit on Tuesday to break above the 4500 level.

The NASDAQ 100 rallied a bit on Tuesday for the fifth candlestick in a row to print green.

The AUD/USD rose to the highest level since July as investors and analysts cast doubt on the guidance offered by the Reserve Bank of Australia (RBA).

The EUR/USD price retreated as investors reflected on the relatively weak US housing starts and building permits data.

As of this writing, the USD/JPY is near the 114.000 mark and has produced a slight selloff after retesting long-term highs yesterday.

The USD/PKR continues to see new record highs as bullish momentum surges and yesterday’s price velocity is showing signs of speculation.

The USD/INR is below the 75.0000 level in early trading today, after not being able to sustain its higher price range yesterday and seeing some selling develop.

BTC/USD speculators are in the midst of an exciting flurry of activity as they watch the cryptocurrency trade within sight of all time record highs.

The USD/JPY's recent rebound gains came to a halt at the 114.46 resistance, a 3-year high, and settled around 114.10 as of this writing.

Gold retreated yesterday towards the $1760 support and swiftly corrected upwards today, settling around $1779 as of this writing.

The GBP/USD settled higher around the 1.3780 resistance level as of this writing, thanks to a halting of the US dollar’s ​​gains, expectations of the Bank of England tightening policy and dissipating fears about the energy crisis.

The EUR/USD has been hovering around the 1.1600 resistance the last 4 sessions in an attempt to correct after its recent sharp losses.

The Aussie is today’s strongest currency.