Forex Daily Forecast, Analysis and Prediction

The S&P 500 covered quite a bit of ground during the trading session on Tuesday, reaching towards the 2865 level in the E-mini futures markets.

The NASDAQ 100 has rallied significantly during the trading session on Tuesday to wipe out the losses after the gap lower on Monday.

AUD/USD: Likely that the price has put in a long-term bottom

USD/JPY: Key Forex pair to watch

The Euro initially tried to rally a bit during the trading session on Tuesday, but gave up gains near the 1.1450 level again, only to break down below the 1.13 handle during the trading session.

The British pound has broken down during trading on Tuesday, as the US dollar got a bit of a boost after being oversold against Sterling.

The Australian dollar broke down a bit during the trading session on Tuesday again to reach down below the 0.65 level.

BTC/USD: Selling pressure remains

The gold markets dropped somewhat significantly during the trading session on Tuesday as we are taking a bit of a break from the massive “risk off”

Canada’s exposure to the oil market has increased recession risks following the most massive oil price contraction since 1991.

GBP/USD: Expect more volatility

EUR/USD: High volatility

AUD/USD: Likely that the price has put in a long-term bottom

In the beginning of this week's transactions, we noticed violent price gaps, amid increasing global fears of a growing Corona spread

Sharp sales in global stock markets and the USD, along with continues fears regarding the Corona virus are all factors that motivated the price of gold