Forex Daily Forecast, Analysis and Prediction

EUR/USD: Moving down from long-term resistance at 1.1354

The West Texas Intermediate Crude Oil market has initially fallen during the trading session but bounced on Tuesday to show that we continue to see the $40 level as somewhat important.

Gold markets have rallied during the trading session on Tuesday again, breaking out to a fresh, new high.

The US dollar has pulled back slightly to kick off the trading session on Tuesday against the Brazilian Real but has turned around at the 50 day EMA yet again to show signs of life.

Silver markets have initially pulled back during the trading session on Tuesday but found plenty of buyers underneath the turnaround and shows signs of life.

The South African Rand has gained value since the start of July, but before you join a parade it should be noted the range of the USD/ZAR has remained very steady.

After battling higher resistance the past week of trading, the USD/PKR has produced a rather weak reversal in early trading today showing the forex pair remains a speculative bet.

For several trading sessions in a row, the USD/JPY has been moving in a limited range amid a downward trend but remains stable below the 108.00 support.

The US currency weakens temporarily, while the GBP/USD attempts upward correction, at a time when there still needs to be a positive development at the Brexit front, which has been the most influential factor on the Sterling in years.

A positive start to the EUR/USD price performance this week, as it moved towards the 1.1345 resistance, highest level in two weeks,

Despite gains of global stock markets, the gold prices got support from the fears related to the strength of the second Coronavirus wave in the United States of America

The US dollar rallied during the trading session on Monday, reaching towards the 0.70 level above.

The British pound rallied a bit during the trading session on Monday to kick off the week but gave back some of the gains to form a candlestick that is somewhat reminiscent of a hammer.

The S&P 500 rallied significantly during the trading session on Monday, as it got a bit of a bid during the Asian Globex trading.

The Euro rallied quite significantly during the trading session on Monday to kick off the week, as there was a definite “risk on” attitude around the world.