Forex Daily Forecast, Analysis and Prediction

Bitcoin price continued soaring in the overnight session, reaching a record high of over $93,200.

The post-US election rally in the US seems to have run out of steam, as many assets including the Euro start to form a potential bullish double bottom against the greenback.

The AUD/USD exchange rate rose for three consecutive days as the recent US dollar index surge took a breather.

During the trading session on Tuesday, we have seen the Japanese yen strengthen quite sharply in the early hours, only to see a turnaround and give back its gains.

You can see that the US dollar has been all over the place against the Swiss Franc during the trading session on Tuesday as we have tested the crucial 0.88 level.

The US dollar has rallied rather significantly against the Chinese Yuan during the trading session here on Tuesday to slam into the 7.25 level.

During my analysis on Tuesday, I've been paying close attention to this pair. This is mainly due to the fact that we had seen a major risk off type of move early in the session with the Japanese yen picking up quite a bit of strength.

The euro tumbled against the Japanese yen on Tuesday, driven by heightened market anxiety over reports of Russia easing nuclear weapon restrictions following Ukraine's launch of six NATO-provided missiles into Russian territory.

At the beginning of this week, the price of gold ounce rose by $50 in a single trading session as the gold price rebounded from the support level of $2565 per ounce to the resistance level of $2615 per ounce in the same trading session.

As this week's trading began, the turmoil caused by Trump's trade policies has somewhat subsided, allowing the EUR/USD currency pair to rebound, reaching 1.0607 at the time of writing this analysis.

The US dollar initially tried to bounce after gapping lower on Monday but turned around to show signs of exhaustion.

The USD/BRL has managed to trade lower the past few days and closed yesterday’s session near the 3.7472 mark, this as the currency pair has created a rather durable price range.

The USD/SGD has traded in a relatively calm manner in early trading this morning, but this follows a handful of days in which the currency pair has produced sharp reversals, tested highs and remains choppy.

During my daily analysis of major currency pairs, the AUD/USD pair has come into focus. This of course is a market that I pay close attention to, because it has a major amount of influence coming from Asia, risk appetite, and of course the gold market.

The US Dollar gapped lower against the Mexican peso during the trading session on Monday, but then turned around to show signs of life.