Forex Daily Forecast, Analysis and Prediction

Confidence Eroding but Correlations Remains Evident.

The current price of the USD/CAD is near 1.34300 which is close to support last tested in a sustained manner in the middle of January.

During yesterday's session, the EUR/USD pair tried to rebound to stop the pace of its losses.

The NZD/USD is trading near the 0.61340 level as of this writing which is a short-term high.

The US dollar continued to gain against other major currencies amid safe-haven demand.

Recently, gold prices rose by $20 yesterday and started this exciting week's trading from the support level of $2,023 per ounce.

Risk aversion was in favour of a downward correction for the USD/JPY pair, with losses extending to the support level of 147.08 before.

USD/INR Currency Range is Stable and Speculatively Quiet.

Mid-Term Support Ratios a Factor for Speculators.

Bitcoin has been on the rise recently, showing signs of recovery after a period of decline.

The euro experienced some initial downward movement during Tuesday's trading session but later showed signs of recovery.

The gold market experienced a fair amount of turbulence in Tuesday's trading session.

The NASDAQ 100 has been on an upward trajectory for the past few weeks, but Tuesday's session appears to be relatively calm.

During the early hours of Tuesday's trading session, silver experienced a minor pullback.

I do think that things are starting to line up for a very strong year.