Forex Daily Forecast, Analysis and Prediction

For the fifth consecutive day, it appears to be clear that the USD/JPY is moving in a limited move narrow range between 108.30 support and 108.93 resistance, before settling around 108.47 at time of writing.

NZDUSD: Today’s pivotal point likely to be 0.6386

AUDUSD: Medium-term bearish topping out strengthening

USDJPY: Strong support & resistance at 108.07 & 109.00

Bitcoin: Pivotal points at $7,753 and the $8,250 area

As we have seen time and time again, the 8000 level has offered quite a bit of bearish pressure, and as a result we have sold off pretty drastically during the day.

The Euro has rolled over slightly during the trading session on Tuesday, showing signs of lackluster performance of the 50% Fibonacci retracement level,

The British pound has been an absolute nightmare to trade as of late, has anybody who has been involved in this market can tell you.

The S&P 500 initially tried to rally during the trading session on Tuesday but did pull back enough to show signs of exhaustion yet again at the highs.

The Australian dollar initially tried to rally during the trading session on Tuesday but found resistance again at the 50% Fibonacci retracement level.

Natural gas markets have rallied a bit during the training session on Tuesday but gave back some of the gains.

The West Texas Intermediate Crude Oil markets have rallied a bit during the trading session on Tuesday, as we continue to build a bit of a base between the $52.50 level and the $55 level.

Gold markets have been compressing for a couple of weeks now, forming a bit of a symmetrical triangle.

Bitcoin markets have done very little of the last couple weeks, which is quite typical of Bitcoin for long periods of time.

The US dollar did very little during the trading session on Tuesday, as we continue to bounce around in the same very tight range against the Japanese yen.