Forex Daily Forecast, Analysis and Prediction

BTC/USD: Weakly bullish above support at $9,117

GBP/USD: Unpredictable price action at the lows

EUR/USD: Range from 1.1000 to 1.1100

The British pound initially fell hard during the trading session on Tuesday, breaking down below a rather significant trendline before finding buyers again.

The Australian dollar has rallied quite significantly during the trading session on Tuesday, after the Reserve Bank of Australia decided to keep its rates on hold.

The Euro initially fell during trading on Tuesday but found enough buyers underneath the turn around and form a slightly supportive looking candle.

The NASDAQ 100 has exploded to the upside during the trading session on Tuesday, as we have made yet another all-time high.

The US dollar has rallied again during the trading session on Tuesday, breaking well above the 50 day EMA in what has been a major “risk on” type of situation

The S&P 500 has rallied significantly during the trading session on Tuesday, reaching towards the 3300 level.

Natural gas markets have initially fallen during the trading session on Tuesday but found support at the $1.80 level yet again.

The German DAX futures reached as low as €13,000 over the last couple of days but have recovered quite nicely during trading on Tuesday.

The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday but gave back the gains as it rolled over to show signs of exhaustion again.

Gold markets fell during the session on Tuesday as more of a “risk off” scenario has overtaken the markets, pushing money out of safe haven assets.

Economic data released out of New Zealand this morning showed a contraction in the unemployment rate mixed with weak hourly earnings for the fourth quarter of 2019.

For two trading sessions in a row, the EUR/USD price attempted to correct higher, but gains did not exceed the 1.1095 resistance, then the correction returned lower, reaching the 1.1034 level in the beginning of this week’s trading.