Forex Daily Forecast, Analysis and Prediction

The EUR/USD showed signs of strength early on Tuesday as it approached a critical technical indicator, the 200-Day EMA.

The gold market is currently hovering around the 38.2% Fibonacci level, reflecting the ongoing struggle to gather enough momentum for a significant move upwards.

The British pound witnessed a substantial rally during Tuesday's trading session, surging towards the 200-Day Exponential Moving Average shortly after the release of CPI numbers from the United States.

The British pound displayed a remarkable rally during Tuesday's trading session, surpassing the ¥187 threshold.

Gold futures recorded their biggest gain in a single session in nearly a month, after the US inflation reading came in below expectations in October.

The GBP/USD, rose to the highest level in two months, with gains that extended towards the 1.2505 level and stabilized around the 1.2480 level at the time of writing the analysis.

The price of the USD/JPY currency pair continued to rebound and nearly touched its highest level in October 2022 at the resistance level of 151.94.

The EUR/USD pair jumped to a two-month high of 1.0887 on the back of lower-than-expected US inflation data and improving German sentiment.

Silver experienced an early rally during Tuesday's trading session, with the hammer pattern from the previous Monday session appearing to lend support to the market.

Natural gas markets displayed a modest rally during Tuesday's trading session, with a significant technical indicator, the 200-Day EMA, situated just above the current levels.

The NASDAQ 100 has taken off to the upside after the CPI numbers in the United States were cooler than anticipated.

The West Texas Intermediate Crude Oil market initiated a minor pullback during the early trading hours on Tuesday.

The AUD/USD displayed a remarkable surge during Tuesday's trading session, and this abrupt upward movement was primarily attributed to the release of Consumer Price Index figures in the United States, which turned out to be cooler than initially expected.

The GBP/USD exchange rate made a bullish breakout after a hawkish statement by the Bank of England (BoE) economist and after the weak US Consumer Price Index (CPI) data.

The EUR/USD exchange rate bounced back to its highest point since August 31st after the weak US consumer inflation data.