Forex Daily Forecast, Analysis and Prediction

AUDUSD: Pivotal point holds at 0.6885

USDJPY: Bullish breakout above 110.00 in doubt

BTC/USD: Bullish Move Weaker but Continuing

US Dollar weakness is expected to accelerate in 2020, and the Canadian Dollar was one of the best performers against the world’s top reserve currency.

The US dollar rallied a bit during the trading session on Tuesday but gave back most of the gains in order to pullback and form a bit of a shooting star.

Gold markets have initially pulled back during the trading session on Tuesday but have found buyers underneath the turn around and form a bit of a hammer.

The Euro went back and forth during the trading session on Tuesday, as we continue to bounce around between two of the bigger moving averages that traders follow out there.

The British pound rallied after initially falling during the trading session on Tuesday, as we continue to see a lot of life pumped into Sterling regardless.

The Australian dollar initially fell during the trading session on Tuesday, but then turned around to form a bit of a hammer.

According to the Turkish Treasury and Finance Ministry, the economy expanded by 5.0% in the fourth quarter of 2019 and by 0.5% on an annualized basis.

Bullish momentum in the GBP/NZD is gathering strength after price action bounced off of the top range of its support zone.

With the US and China set to sign their phase-one trade truce today, the US announced that existing tariffs will remain in place until after the November election.

GBPUSD: Weakly bullish above 1.3060

EURUSD: Ranging between 1.1110 and 1.1145

The price of the EUR/USD pair is trying to correct higher for the third consecutive day, but gains are still limited and not exceeding the 1.1146 level, before settling around 1.1138 at the time of writing.