Forex Daily Forecast, Analysis and Prediction

During my daily analysis of commodity markets, the gold market has caught my attention as it has seen such a beating.

The market has gotten back and forth during the course of the trading session, Tuesday as we are just hanging around.

Dear my daily analysis of major currency pairs, I recognize that the New Zealand dollar is a currency that continues to see a lot of downward pressure, but we are also sitting on a significant support level just below.

Gold has fallen pretty significantly during the course of the trading session on Tuesday as we are now flirting with the $2,600 support level.

During my daily analysis of the AUD/USD pair, the market initially tried to rally a bit during the day.

During my daily analysis of major currency pairs around the world, the USD/CAD pair continues to capture a lot of attention for me, as we are pressing against a major resistance barrier that I think needs to be paid close attention to.

As you can see, the US dollar has rallied again against the Japanese yen as we continue to see a lot of upward pressure in general.

The EUR/USD exchange rate continued its strong sell-off as the US dollar index surge gained momentum.

Bitcoin has seen a dramatic increase in value following the US general election result and is finally making a natural bearish retracement after touching a record high above $90,000 yesterday.

The AUD/USD exchange rate continued its strong downtrend as the US dollar index rally gained steam.

The GBP/USD pair plunged to its lowest level in almost three months as geopolitical concerns remained elevated.

At the beginning of this week, the GBP/USD exchange rate is facing pressure, and we will be monitoring the key support levels that will be tested in the coming days.

Trump's trade policies continue to support further gains for the US dollar against other major currencies.

The US dollar continues to gain momentum against other major currencies since Trump’s victory in the US presidential election, while the Japanese yen was negatively affected by the Bank of Japan’s pause in tightening.

The ongoing strength of the US dollar is negatively impacting gold prices, which are now approaching the crucial support level of $2600 per ounce for the bears.