Forex Daily Forecast, Analysis and Prediction

Price hits new 2.5-year high above 1.3700

Few companies have achieved the global renown that Tesla (NYSE: TSLA) has achieved in only thirteen short years since its founding.

The Nikkei 225 opened with a spike higher this morning, but was promptly sold off with a reversal lower.

ETH/USD recorded record highs yesterday and the cryptocurrency is gaining more attention.

The USD/MXN has begun to demonstrate an ability to sustain lower values, which are also important long-term support levels.

The start of trading this year for the USD/INR has produced choppy waters, but the Forex pair in the last week has begun to also trade in a manner similar to the past three months.

Gold prices rose again and stabilized around $1855 as of this writing

Despite the recent strength of the US dollar, the GBP/USD pair rose to stabilize around the 1.3670 level as of this writing.

The US dollar fell against most other major currencies as risk sentiment improved in the market amid hopes of further economic stimulus.

For the second day in a row, the EUR/USD pair is trying to correct to the upside, having stabilized around the 1.2155 resistance level as of this writing.

The euro rallied significantly during the trading session on Tuesday as we bounced from the 50-day EMA.

The British pound rallied a bit during the trading session on Tuesday, as we had broken above the top of the hammer from the previous session.

The gold market broke down significantly during the trading session on Tuesday to reach down towards the $1800 level.

The Australian dollar initially tried to rally during the trading session on Tuesday but then gave back the gains to form a shooting star-shaped candlestick.

Bitcoin markets initially tried to rally during the trading session on Tuesday but have struggled to hang on to gains.