Forex Daily Forecast, Analysis and Prediction

GBP/USD: More bearish below 1.2378

EUR/USD: Support at 1.0814 breaking down

The Euro has fallen after initially trying to rally during the trading session on Tuesday.

The S&P 500 rallied a bit during the trading session on Tuesday but is still struggling to get to the top of the gap.

The NASDAQ 100 has broken to the upside during the trading session on Tuesday, filling the gap in order to show signs of significant bullish pressure yet again.

The Australian dollar rallied a bit during the trading session on Tuesday, reaching towards the 0.65 level above.

The US dollar has fallen again during the trading session on Tuesday against the Russian ruble, as we are breaking below the 74 level.

Silver markets bounced a bit during the trading session on Tuesday, as the $14.90 level has offered significant support, which extends all the way to at least the $15.00 level.

Gold markets have spent most of the day on Tuesday bouncing back and forth around the $1700 level, an area that will of course attract a lot of attention

The West Texas Intermediate Crude Oil market has rallied yet again during the day on Tuesday but looks like it is heading towards a resistance barrier

South Africa lowered its Covid-19 lockdown to level four, allowing approximately 1.5 million employees to return to work this week.

UK Covid-19 related deaths are now the highest in Europe, exceeded globally only by the US, home to the most infections and deaths.

Following preliminary first-quarter Eurozone GDP data, showing a record contraction of 3.8%,

A quiet start and in a limited range for the price USD/JPY as it moved between the 106.63 support and the 107.06 level of before settling around the 106.66 level at the beginning of today’s trading.

The recent skirmishes between the two largest economies in the world will motivate investors once again to buy safe haven assets, and gold will have a large share of this turnout.