Forex Daily Forecast, Analysis and Prediction

Gold markets tried to pull back a bit during the trading session on Tuesday, but also saw some buying at the lower levels to turn things around and stabilize a bit.

Fourth-quarter GDP data out of Turkey confirmed the economic recovery with a 5.0% expansion, the average growth rate over the past two decades.

With Covid-19 days away from being declared a global pandemic, safe-haven assets continue to enjoy demand.

UK economic data has consistently surprised to the upside since Prime Minister Boris Johnson secured an overwhelming majority in the House of Commons

EUR/USD: Pivotal point at 1.0889

For the second consecutive day, the USD/JPY pair was exposed to profit-taking sales after the pair moved towards the 112.22 resistance at the end of last week’s trading.

AUD/USD: Breakdown towards 0.6500 looks likely

In the beginning of this week’s trading, the price of gold rose to the $1659 level, with a 1.8% increase.

In the beginning of this week’s trading, the GBP/USD pair dropped again.

For two trading sessions in a row, the EUR/USD price is trying to correct higher, but its gains did not exceed the 1.0872 resistance.

USD/JPY: Bullish breakout failed

BTC/USD: Support at $9,518 holds again

GBP/USD: Bullish above 1.3016

Ethereum failed to extend its advance, being rejected three times by its resistance zone.

Preliminary Eurozone PMI data for February indicated a mild recovery off of depressed levels, hardly sufficient to warrant a stronger Euro.