Forex Daily Forecast, Analysis and Prediction

We find ourselves at a highly peculiar juncture in economic history.

The USD/MXN is traversing within the middle ground of its one-month charts and short-term traders need to be careful.

The USD/ZAR has produced a reversal higher since hitting lower values on the 17th of March, and short-term resistance levels are being challenged.

The USD/INR has produced a reversal higher in the past twelve hours after hitting important support levels below.

The USD/SGD continues to produce choppy results for short-term speculators and the Forex pair’s recent run higher raises questions.

$53K area remains key to bullish hopes.

The price is trading at a 6-week low on the dollar's strength.

Usually, the price of gold moves higher in times of uncertainty and risk-aversion, but this time the price of gold collided with the strength of the US dollar.

After the GBP/USD pair abandoned the 1.4000 psychological resistance level, the bears gained control and succeeded in pushing the pair towards the 1.3740 support.

Renewed fears and risk-averse sentiment were positive for the Japanese yen against the rest of the other major currencies.

Bears are still controlling the performance of the EUR/USD pair as US monetary policy officials are still confident in the future of the country's economic recovery amid vaccinations and economic stimulus plans.

The AUD/USD price declined sharply in the evening session as traders reacted to the relatively weak commodity prices and the stronger US dollar.

The EUR/USD price dropped to the important support at 1.1835 as the market reflected on Jerome Powell and Janet Yellen’s testimony in Congress.

The Euro fell significantly during the trading session on Tuesday as Germany has announced further lockdowns.

The NASDAQ 100 has been very choppy and quiet during the trading session on Tuesday as we are sitting just above the 50 day EMA.