Forex Daily Forecast, Analysis and Prediction

Nearest support and resistance levels look firm.

At least we have stopped falling, which is the first step to some type of recovery.

The US dollar rallied a bit during the trading session on Tuesday as we continue to test the ₹74.50 level.

Bitcoin fell rather hard during the trading session on Tuesday, breaking down below the $30,000 level.

The euro has initially fallen a bit during the trading session on Tuesday, but then turned around to show signs of strength as Jerome Powell testified in front of Congress.

The British pound initially pulled back a bit during the trading session on Tuesday, but then turned around to show signs of stability again.

The EUR/USD retreated slightly during the overnight session as investors reacted to Jerome Powell’s testimony to Congress.

The AUD/USD pair retreated during the Australian session as investors reacted to the latest Australian Manufacturing and Services PMI numbers and the new lockdown in Sydney.

For the second day in a row, the price of the EUR/USD currency pair is trying to correct upwards after sharp selling operations that pushed it towards the 1.1847 support level.

For the second day in a row, gold futures contracts continue to bounce up after the sharp decline last week.

Ahead of the expected testimony of US Central Bank Governor Jerome Powell today, the USD/JPY currency pair maintains its bullish momentum.

The recent bearish correction of the GBP/USD currency pair was sharp, which plunged the pair to the 1.3786 support level, the lowest in a month and a half.

DOT/USD continues to see bearish sentiment break beneath support levels which have proven vulnerable.

XRP/USD has seen a swift selloff in the past couple of days and important mid-term support junctures have proven vulnerable.

The value of DOGE/USD has essentially been torn into half the past week of trading as the broad cryptocurrency market remains agitated.