Forex Daily Forecast, Analysis and Prediction

Gold markets have rallied yet again during the trading session on Tuesday, reaching towards the $1785 level towards the end of the pit session.

GBP/USD: Bullish breakout from price channel looking very weak

EUR/USD: Yet potential bearish double top at 1.1354

The Australian dollar initially pulled back a bit during the trading session and then shot towards the 0.70 level during the trading day.

The British pound initially dipped during the trading session on Tuesday but found enough buyers to break back above the 50 day EMA and then reach into the range between the 50 day EMA and the 200 day EMA.

The US dollar initially tried to rally during the trading session on Tuesday and then turned around to fall towards the ¥106 level.

The US dollar has gone back and forth during the Tuesday session as we are trading just below the 50 day EMA.

The Euro rallied significantly during the trading session on Tuesday but continues to find resistance above, close to the 1.1350 level.

The Singapore Dollar is trading near the strongest part of its value range since relatively early in March.

For several consecutive trading sessions, the USD/JPY currency pair stabilized in narrow ranges with a bearish bias, which may herald a strong movement coming in either direction.

After the recent EUR/USD selling, which pushed it towards the 1.1168 support for two trading sessions, the pair could not go below that.

AUD/USD: Risk sentiment boosting AUD

USD/JPY: Improving risk sentiment weakens Japanese Yen

With the beginning of this week’s trading, gold prices rose to achieve sharp gains that pushed it to the resistance at $1763 an ounce,

A positive but cautious start for the GBP/USD price for this week, as the pair bounced to 1.2476 after the recent sell-off that pushed it towards the 1.2335 support,