Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market has finally broken out of the range that we have been in for some time, and now that we have broken above the $43 level, it looks as if we could continue to go higher.

The euro rallied during the trading session on Tuesday again, reaching towards 1.19 level.

The British pound initially pulled back during the trading session on Tuesday, but continues to find reasons to go higher.

The S&P 500 rallied significantly during the trading session on Tuesday, breaking above the 3630 handle.

The NASDAQ 100 rallied nicely during the trading session on Tuesday, as we have broken above the 12,000 level yet again.

The bulls are breaking up, but there is strong resistance below the 1.2000 level.

Gold markets got absolutely crushed during the trading session on Tuesday as we reached down towards the $1800 level.

The silver markets continue to be very noisy, as we had initially pulled back significantly during the trading session on Tuesday.

The Bitcoin market continues to defy gravity, which is something it has been known to do.

The US dollar was all over the place during the trading session on Tuesday as we continue to see a lot of choppiness against the Japanese yen.

The Australian dollar rallied significantly during the trading session on Tuesday to slam into the 0.7350 level.

After eight trading sessions in a row, the EUR/USD currency pair managed to correct higher, taking advantage of the optimism in the markets amid announcements of successful coronavirus vaccines.

The GBP/USD pair witnessed a downward correction by more than 100 points amid profit-taking selling that pushed it towards the 1.3263 support.

Investors' abandonment of safe havens and the recovery of the USD pushed the gold price to decline sharply at the beginning of this week’s trading.

Risk appetite and the USD recovery were strong factors in a long-awaited upward rebound for the USD/JPY.