Forex Daily Forecast, Analysis and Prediction

The USD/JPY has found itself engaged within a developing bullish movement which needs attention by speculators if they have not been looking at the Forex pair.

Speculators love to take advantage of long-term trends, but often are challenged by sudden reversals which frequently pester Forex pairs.

The USD/INR has been able to sustain its lower value range the past couple of days, but support below has also proven rather strong and has produced a couple of reversals higher.

Bulls need to hold $35k area to sustain momentum.

Gold is being sold amid the recovery of the US dollar, with gold falling to the $1830 level before settling around $1844 as of this writing.

The GBP/USD pair has been under downward pressure, pushing it towards the 1.3611 support level before settling around 1.3670 at the time of writing.

The USD/JPY is moving in an upward correction path this week that has tested the 105.17 resistance level, its highest in over two months, before stabilizing around 105.95.

As we await of the release of Eurozone inflation figures, the EUR/USD is struggling not to collapse below the 1.2000 psychological support level.

The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Tuesday to peek above the $55 level for just a moment.

The euro initially tried to rally during the trading session on Tuesday but found the 50-day EMA to be a bit too resistive to continue going higher.

The British pound fluctuated during the trading session on Tuesday as we reached as low as the 1.36 level before recovering.

The S&P 500 rallied again during the trading session on Tuesday as it looks like we are trying to break above the recent highs of 3850.

The NASDAQ 100 rallied a bit during the trading session on Tuesday to reach towards the 13,500 level again.

The British pound remains a relatively strong currency.

The DAX rallied again during the trading session on Tuesday to reach towards the 13,850 level.