Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied significantly during the trading session on Tuesday to reach towards the 3900 level but has fallen just a bit short.

Clear, pivotal support and resistance levels nearby.

The British pound rallied a bit during the trading session on Tuesday to bounce from a crucial uptrend line.

The euro bounced a bit during the trading session on Tuesday as it reached towards the 200-day EMA.

Gold markets rallied significantly during the trading session on Tuesday to bounce from a crucial support region.

The Australian dollar rallied quite nicely during the trading session on Tuesday as we have not only closed towards the top of the range, but we have bounced from a significant uptrend line.

The Bitcoin market has broken out above the recent resistance to reach towards the $54,000 level.

The AUD/USD price downward trend continued ahead after relatively dovish comments by RBA Governor Philip Lowe.

The EUR/USD price retreated in the American and Asian sessions as traders waited for the important US inflation data and the European Central Bank (ECB) decision.

DOT/USD has produced a solid incremental trend higher since the end of February and speculators may be targeting early March highs.

Gold prices continued to collapse as Treasury bond yields and the US dollar continued to rise and pushed investors to abandon the yellow metal.

The pound is trying to withstand the recent strength of the US dollar, supported by investor optimism towards the pace of British vaccinations.

The announcement of slow Japanese economic growth on Tuesday morning was an additional impetus for the USD/JPY to push to the 109.23 resistance level.

For the second week in a row, the EUR/USD is continuing its bearish correction.

UNI/USD is traversing near record highs in early trading today as the broad cryptocurrency market has been energized again.