Forex Daily Forecast, Analysis and Prediction

The US dollar has fallen pretty significantly during the trading session again on Tuesday, as we reached towards the ¥107.50 level.

The Australian dollar has fell during most of the session on Tuesday but then saw buyers come into the market late.

While some traders may correlate the decline in value for the NGN as part of a reaction to the Coronavirus pandemic, the African currency has not rebounded and remains within a stubborn weak trading range against the US Dollar likely due to the collapse of trading in the world’s Crude Oil industries.

We may have found some exhaustion in a market that has been overdone.

For the third straight day, the USD/JPY continues its bearish correction.

For three trading sessions in a row, the gold price is back to correct upwards and compensate for its recent losses, which extended to the $1671 support at the end of trading last week.

AUD/USD: Aussie has great residual strength

EUR/USD Technical Analysis: The US inflation Reception on the Rise.

The British pound has broken down a bit during the trading session initially on Tuesday, reaching towards the 200 day EMA.

The NASDAQ 100 has initially pulled back a bit during the trading session on Tuesday only to shoot above the 10,000 level at one point during the day.

Brazil became the epicenter of the global Covid-19 pandemic.

USD/JPY: Yet strong support at 107.32

While venturing into the Pakistani Rupee may seem farfetched for some traders, a look at the currency within the scope of a 3-month chart and the ability to react short term could prove worthwhile, besides absolutely stimulating.

BTC/USD: Narrowing triangle above strongly supportive area

The IDR has actually moved back to a trading range which acted as its core value the past half-year, in fact, if you look at a year-long chart for the USD/IDR you will see that its current level looks positively normal.