Forex Daily Forecast, Analysis and Prediction

On Tuesday, the gold market fluctuated back and forth around the 38.2% Fibonacci level.

On Tuesday, the British pound fell initially, hitting the 1.20 region.

During Monday’s trading session, the S&P 500 index was closed, but the futures market experienced limited electronic trading for the day.

Amid a temporary halt to the gains of the US dollar, the gold (XAU/USD) price gained a positive momentum to rebound to the upside, stable around the level of $1847 an ounce.

For four consecutive trading sessions, the USD/JPY currency pair settled around the recent bullish rebound gains, which affected the 135.10 resistance level.

The silver market showed some signs of life during the trading session on Monday, despite the initial pullback.

The GBP/USD exchange rate revealed its New Year gains last week, and it will be fortunate if it is able to avoid a further breakout below the 1.20 psychological support in the coming days after an unfavorable expansion of the expected Fed interest rate differential.

The US dollar pulled back just a bit in relatively quiet trading on Monday as the 1.35 level continues to cause issues against the Canadian dollar.

The EUR/USD exchange rate erased all of its New Year's gains over the course of February trading but drew support on Friday from the hawkish resolve of the European Central Bank (ECB).

On Monday, the British pound hesitated near the 200-Day EMA, and the market has been noisy.

The Dow Jones Industrial Average rose during its recent trading on the intraday levels, to achieve gains in its last sessions by 0.39%, gaining about 129.84 points.

Spot natural gas prices (CFDS ON NATURAL GAS) settled down during their early trading on Tuesday, stable at their lowest level in two years.

During Monday's trading session, the Australian dollar rallied, breaking above the 50-Day EMA, near the 0.69 level.

Unchanged Early trading of the TRY/USD stabilized on Tuesday morning.

During Monday's trading session, the West Texas Intermediate Crude Oil market rallied a bit, but we saw a lot of noisy and choppy behavior in thin volume.