Forex Daily Forecast, Analysis and Prediction

The crude oil market has plunged rather significantly during the trading session on Tuesday as Chinese demand seems to be cratering.

This currency pair has fallen strongly as market sentiment moves into more firmly risk-off territory, knocking the Australian Dollar and pushing the price below the former key support level and major quarter-number at $0.6750.

It’s easy to see that we have been stabilizing over the last couple of days.

The ASX 200 has shown itself to be somewhat negative.

I’m paying close attention to the fact that we have continued to fall quite drastically, and therefore it’s likely that we could see a revisit of the previous resistance barrier, although at this point in time it is still a little early to call for that.

The NZD/USD pair looks very week, as we had stretched far too high in the air, and now it looks like we are starting to drift a bit lower.

The US dollar initially tried to rally, we have since seen this asset pull back a bit, but that makes a certain amount of sense considering that we are essentially “swimming upstream.”

The GBP/USD pair continued its downtrend in the overnight session as the US dollar recovery accelerated.

The EUR/USD exchange rate continued its downtrend as the US dollar recovery continued.

Bitcoin price held relatively steady even as American stocks tumbled to their lowest levels in almost a month.

The recent sales did not derail the gold price from its general trend and adherence to the psychological resistance of $2,500 per ounce confirms the strength and control of bulls over the trend.

At the beginning of this week, the Japanese yen weakened to below 147 yen against the US dollar, reaching its lowest level in two weeks.

The euro was trading at around $1.10 at the beginning of September, hovering near levels not seen since mid-August.

The GBP/USD exchange rate was hovering around $1.31 at the beginning of September, following a 2.1% gain in August.

The Parisian CAC 40 pulled back just a bit to show signs of weakness initially during the trading session on Monday, but then turned around to bounce back above the 200 day EMA.