Forex Daily Forecast, Analysis and Prediction

The British pound initially rallied during the session on Tuesday but then turned around to fail as we have seen this market chop back and forth.

The question now is whether or not we can recover after this most recent selloff.

The S&P 500 pulled back ever so slightly during the trading session on Tuesday but then turned around to show signs of resilience.

The NASDAQ 100 fell quite a bit to kick off the trading session on Tuesday to reach down towards the uptrend line.

Selloff from $40k area slowing in momentum.

The Indian rupee gained slightly against the US dollar as the Delta variant in India seems to be slowing down.

The FTSE 100 rallied significantly during the trading session on Tuesday, but now that we are above the 7000 level, it looks as if we are going to try to get towards the top of the same ascending triangle.

The CAC 40 rallied again during the trading session on Tuesday as the market is above the 6700 level.

The Bitcoin market initially tried to rally during the session on Tuesday but gave back the gains to show the $40,000 level as resistance yet again.

The gold market dropped a bit during the trading session on Tuesday, as sit at the 50-day EMA without any interesting movement in one direction or the other.

The AUD/USD pair tilted upwards after the latest Australian retail sales and Services PMI numbers.

The EUR/USD price has been struggling to find direction this week.

The pair is testing the resistance level at 1.3937.

The path of British injuries with the Corona Delta variable, the upcoming Bank of England (BoE) policy decision and the important US jobs report, are the most important factors that will affect the future and performance of the GBP/USD currency pair for this week.

For two trading sessions in a row, the price of gold is subjected to selling after its rise to the resistance level of $ 1832 an ounce, its highest in two weeks.