Forex Daily Forecast, Analysis and Prediction

Silver markets have had a horrific day during the trading session on Tuesday, reaching down towards the $26 level.

The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday, even gapping ever so slightly higher.

Bitcoin markets have pulled back a bit during the trading session on Tuesday, as we had seen the gold market meltdown during the day as well.

For the third day in a row, the price of the EUR/USD is moving in a downward correctional range, which pushed it to the 1.1722 support at the time of writing, and ahead of the announcement of the ZEW reading for the German economic sentiment.

The GBP/USD is trying to avoid breaching the 1.3000 support, in order not to increase selling and a shift in the general direction that is still bullish.

Bitcoin/USD: Cautious stability.

USD/JPY: Bears in control.

AUD/USD: USD uprising and the tensions with China.

GBP/USD: 1.3010 and 1.2940 are buying levels.

EUR/USD: 1.1680 support threatens the bullish potential

As largely predicted, gold prices reached overbought areas, and technical indicators await profit-taking selloffs for correction.

For three trading sessions in a row, the USD/JPY has been trying to correct to the upside, but gains did not exceed the 106.20 level, now the pair remains stable around that level at the time of writing.

The USD/BRL is near an important technical juncture of 5.5000.

The USD/ARS remains in a long term buying position.

In early trading this morning the USD/INR remains locked within a tight range.