Forex Daily Forecast, Analysis and Prediction

The US dollar rallied a bit during the trading session on Tuesday to show signs of life again, as there are concerns about the trade war again.

The Euro went back and forth during the trading session on Tuesday, as the 1.11 level is massive resistance, and it looks very likely to be an area that we will struggle with.

Bitcoin continues to struggle and the overall bearish environment remains in place.

The British pound initially tried to rally above the crucial 1.30 level during the trading session on Tuesday, and although this was a strong move, once we got close to that area we failed again.

New Zealand reported an increase in house prices as well as in commodity prices which prevented a breakdown in the NZD/CAD to materialize.

The Australian dollar has rallied a bit during the trading session on Tuesday but gave back quite a bit of the gains due to Donald Trump suggesting that the trade deal might be better served happening after the election.

After the release of Australian economic data that showed the service sector continues to cool down and third-quarter GDP clocked in lower than what economists were looking for

USD/JPY fell to the 108.92 support with a stronger decline in the US ISM Manufacturing PMI, and investors' risk appetite ceased with the absence of any details of the upcoming trade agreement between the US and China. T

For eight consecutive trading sessions, the price of gold is moving in a limited range between the $1450 support and the $1466 resistance in a cautious wait until the announcement of the deadline for the formal signing of the “Phase 1” trade agreement between the United States and China.

For four consecutive trading sessions, GBP/USD is attempting to breach through the 1.2950 resistance level to complete the upward correction.

The dollar returned to the downside, and thus was an opportunity for the EUR/USD pair for an attempt to correct upwards, and gains reached the 1.1091 resistance before settling around the 1.1072 support at the time of writing.

The Australian dollar exploded to the upside on Monday, as there are signs of hope coming out of China when it comes to manufacturing figures.

The S&P 500 has fallen a bit during the trading session on Monday, kicking off a negative candlestick for the week.

The Euro rallied rather significantly during the trading session on Monday, reaching towards the 1.11 USD level.

The British pound is in fact ready to break out, it simply needs some type of catalyst to make that happen.