Forex Daily Forecast, Analysis and Prediction

Amid a holiday-dominated trading week with only the Fed's favorite inflation reading to watch, the EUR/USD currency pair is moving in tight ranges with a bearish bias.

Despite the holidays, low liquidity, and wait-and-see mode, gold prices moved to the historical psychological resistance level of $2200 per ounce during yesterday's trading before stabilizing around $2178 per ounce at the start of a very quiet trading day.

As you can see, the NASDAQ 100 has shown itself to be somewhat dead money over the last couple of days as we are trying to sort out what to do next.

Silver has gone back and forth during the trading session on Tuesday, as we continue to hang around the $24.50 level.

The USD/CAD is near the 1.35935 price as of this writing and continues to show an ability to incrementally climb higher.

The S&P 500 was a bit choppy early during the trading session on Tuesday as we continue to look to the upside.

Bitcoin seemed a bit stagnant during the early hours on Tuesday after shooting straight up in the air on Monday.

The NZD/USD has continued to incrementally linger near lows and signal that bearish behavioral sentiment remains the dominant force within the currency pair.

The British pound has been slightly positive during the early hours on Tuesday against the Japanese Yen.

The Euro rallied slightly in the early hours on Tuesday as we have now reached the 50 day EMA.

A drop below $68,552 likely to signal a deeper pullback.

The German DAX had another strong session on Tuesday as we continue to plow higher.

The French CAC initially pulled back just a bit during the trading session on Tuesday but found buyers yet again.

The US dollar is stable at a very high level against the Japanese yen, so that of course is a very bullish sign.

The US dollar has fallen a bit against the Canadian dollar during the trading session on Tuesday.