Forex Daily Forecast, Analysis and Prediction

Most economies around the world are struggling to find a solution to the global Covid-19 pandemic, which initiated a recession likely to last longer than market participants price.

Yesterday’s retail sales recovery out of the US for May spiked the US Dollar temporarily.

Brazilian retail sales for April recorded a record plunge, following US retail sales data for the same period.

USD/JPY: Bullish break building?

BTC/USD: Yet short-term bullish trend

GBP/USD: British Pound remains weak

The USD/ZAR moved within a solid range on Tuesday and the currency pair may be able to accomplish the same story in forex today.

EUR/USD: Narrowing triangle

The old saying that the trend is your friend in forex is understood by traders.

The silver market has rallied a bit to kick off the Tuesday session, breaking above the top of the hammer from the Monday session.

The bitcoin market did extraordinarily little during the trading session on Tuesday, as the markets were all over the place outside of the crypto world.

Gold markets have been choppy during the trading session on Tuesday as Jerome Powell spoke in front of Congress.

The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Tuesday, breaking above the top of the hammer from the previous session on Monday.

With the beginning of this week’s trading, the EUR/USD pair succeeded in rebounding higher, reaching the 1.1332 resistance, after the recent downward corrections that pushed the pair towards the 1.1212 support.

In the beginning of this week’s trading, gold price fell to the $1704 support, with a positive shift in the performance of global financial markets, which increased the profit-taking sell-offs.