Forex Daily Forecast, Analysis and Prediction

The S&P 500 initially pulled back during the trading session on Tuesday, but turned around to show signs of life again.

Gold markets have been relatively quiet during the trading session as we await the FOMC results, and perhaps more importantly, the press conference that Jerome Powell will be giving afterwards.

Silver markets did very little during the trading session on Tuesday as traders around the world await the results of the FOMC meeting, and perhaps more importantly, the press conference afterwards.

Bitcoin markets fell initially during the trading session on Tuesday but continue to find buyers just above the $30,000 level.

The euro initially fell during the trading session on Tuesday but continues to find buyers underneath.

The British pound initially pulled back during the trading session on Tuesday but found enough support near the 1.36 level to turn things around and rally towards the 1.3750 level again.

The AUD/USD wavered during the Asian session even after the relative strong economic data from China and Australia.

The GBP/USD is holding steady after the relatively strong UK employment numbers that were released yesterday.

The NASDAQ broke through the 13500.0 level and established all-time highs yesterday near the 13570.0 mark.

The USD/MXN has tested the 20.20000 yesterday and early today in Forex.

The past few days of trading have seen strong upward momentum develop in the USD/ZAR, but this follows a test of important support levels.

The USD/SGD has continued to deliver short-term volatility and speculators need to carefully gauge their timeframes and goals when taking positions.

Despite the recovery of the US dollar, gold has tried to maintain its gains around the level of $1865 since the start of this week, pending any new COVID-19 or stimulus developments.

The USD/JPY pair tried but failed to breach the 104.00 resistance at the beginning of this week's traing, instead settling around 103.70 and losing enough momentum to reverse the general trend.

Sell-offs pushed the GBP/USD to stabilize around the 1.3634 level as of this writing, after upward momentum at the beginning of this week's trading pushed the pair to the resistance level at 1.3723.