Forex Daily Forecast, Analysis and Prediction

USD/JPY: Price approaching multi-month low at 104.00

BTC/USD: Long-term bullish trend advancing

The USD/INR tested higher resistance targets on Monday above 74.0000 and then produced a reversal lower which promptly tested support levels around the 73.6300 mark.

The USD/ZAR has produced a tight consolidated range, but also tested significant support near the 16.10000 juncture.

The USD/MXN tested important support levels near the 20.84000 early this week, but has seen a slight reversal emerge higher.

The DAX Index has been hit with a severe plunge downward again this morning.

GBP/USD: Pound is stronger than the Euro

EUR/USD: European coronavirus worried making negative impact

Early criticism over the handling of the first wave of the Covid-19 crisis in Sweden remains, but some European countries started to implement a light Swedish-like approach to the second wave of the pandemic.

Singapore maintains control over the Covid-19 pandemic, primarily due to a highly disciplined public, unlike the US and Europe, where many ignore public health guidelines.

The Euro has gone back and forth during the trading session on Tuesday, reaching towards the 1.1840 level before pulling back again.

The NASDAQ 100 rallied a bit during the trading session on Tuesday, as the 11,500 level continues to be of interest.

The S&P 500 initially tried to rally a bit during the trading session on Tuesday but gave back the gains as soon as we tried to pop above the 3400 level.

The Bitcoin market has gotten a bit ahead of itself, and at this point looks likely to go parabolic again.

The British pound has initially tried to rally during the trading session on Tuesday but then fell towards the big figure of 1.30 before bouncing a bit.