Forex Daily Forecast, Analysis and Prediction

Tesla continues to see support on dips, as Tuesday has seen a bit of a turnaround.

Short-term pullbacks will continue to be potential buying opportunities with the 50-day EMA at the 25,208 level offering support right along with the 25,000 level. I still believe in the NASDAQ 100 going higher, but the holiday will make things quiet for now.

The Chinese yuan continues to threaten a break below the 7 handle, something that could kick off a cascade of selling.

The Euro drifted a little bit lower against the US dollar again on Tuesday, trying to find a way to rally through the massive 1.18 area.

The USD/RUB is near the 79.4900 realm as of this writing with extremely low trading volumes taking place as the New Year’s holiday starts to come into effect.

The Euro rallied slightly in early Tuesday trading, as we have seen multiple days in a row.

The USD/SGD is near 1.28580 as of this writing, this as Forex markets begin to see volume disappear and even day traders who constantly feel the need to pursue opportunities understand very little is happening in the marketplace.

The US dollar has been choppy against the Japanese yen during trading on Tuesday, as we are simply flailing about trying to find some type of momentum.

Bitcoin has rallied slightly in the early hours on Tuesday as we continue to see a lot of choppy sideways behavior.

Choppy trading is likely today due to low liquidity and several support and resistance levels located close to the current price.

The US dollar has risen against the Canadian dollar again on Tuesday in what looks like it's going to end up being a bit of a turnaround

Silver rallied a bit during the early hours on Tuesday to fight back against the massive selling pressures of Monday.

The GBP/USD exchange rate pulled back on the last trading day of the year as the recent bull run faded. It also pulled back after the Federal Reserve published minutes of the last meeting. It dropped to 1.3450, down from this month’s high of 13535.

Bitcoin price remained in a tight range on the final trading day of the year, capping a year in which it underperformed other assets like gold and the stock market. The BTC/USD pair was trading at 88,340, down by 30% from its highest level this year.

The AUD/USD pair remained in a narrow range and was hovering at the highest level since October last year. It was trading at 0.6700, much higher than the year-to-date low of 0.5914.