Forex Daily Forecast, Analysis and Prediction

Despite the strength of the US dollar, the price of gold appears resilient with the support of many global factors.

It's a particularly bearish trading week for the Japanese yen against the other major currencies.

The British pound has often shown resilience in the face of a strong US dollar, now with momentum from expectations of imminent tightening of the US Federal Reserve's policy.

The EUR/USD is approaching the psychological support level of 1.1500 ahead of important weekly data, namely US inflation numbers and the FOMC minutes.

Bitcoin bulls still have all-time high prices in sight.

The gold markets initially shot higher but saw quite a bit of selling pressure to turn things around and form a shooting star yet again.

The Australian dollar rallied a bit on Tuesday but gave back the gains to form a bit of a shooting star yet again.

Bitcoin markets pulled back just a bit on Tuesday to show hesitation, which is a good thing considering we have been so parabolic recently.

The S&P 500 pulled back just a bit on Tuesday, but then turned around to show signs of life again in order to form a hammer.

The NASDAQ 100 was trying to rally on Tuesday but continues to slump as the markets are starting to be concerned about inflation and other such situations globally.

The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level.

The Canadian dollar fluctuated on Tuesday, sitting just below the 1.25 handle.

The FTSE 100 initially pulled back on Tuesday but found enough support at the 50-day EMA to show signs of life again.

The euro continues to drift lower as it initially tried to rally but then gave back those gains to reach towards the 1.15 level.

The British pound rallied during the early hours on Tuesday, but as you can see, has given back quite a bit of the gains to show signs of exhaustion.