Forex Daily Forecast, Analysis and Prediction

Bearish pressure on USD/JPY remains intact and testing the 104.44 support at the beginning of this week, the lowest in 32 months, has consolidated the strength of the general trend.

Gold rushed back up as, and as expected in the previous technical analysis that gold continues move around and the above $1500 psychological resistance will remain supportive of the upward trend and may motivate investors to return to buy it as long as global trade and geopolitical tensions exist.

A New support for the recent GBP/USD upward correction after the British opposition leader, Jeremy Corbyn, pledged to prevent Brexit without agreement.

Continued downward pressure on EUR/USD and weak correction attempts, make traders wonder about the upcoming targets for the continuation of the current situation.

Silver: New 18-month highs above $18.33

NZDUSD: Bearish price channel continues to hold

AUDUSD: More bearish

USDJPY: Support at 105.66 still holding

Bitcoin: Consolidating triangle continues to hold

The WTI Crude Oil market should continue to grind a little bit higher in the short term, but I do think that by the end of the day we will find sellers to push this market back down.

The S&P 500 initially tried to rally during the trading session on Tuesday but gave back quite a bit of the gains as we reach towards the 2900 level.

The natural gas markets fell during the trading session on Tuesday, as we continue to see a lot of resistance above and it’s likely that we will continue to go lower.

The Bitcoin market has done very little during trading on Tuesday, as we continue to see plenty of support just below.

The Australian dollar has done almost nothing during the last couple of weeks, and of course Tuesday was no different.

The British pound has broken higher during the trading session on Tuesday, reaching towards the 1.23 level.