Forex Daily Forecast, Analysis and Prediction

Support at $1.3490 looks likely to be pivotal.

The British pound fell towards the 1.3450 level again on Tuesday as we continue to question whether or not we are breaking out or breaking down.

The euro stabilized a bit on Tuesday after initially dumping.

The US dollar initially tried to rally on Tuesday but gave back early gains against the South African rand as we continue to consolidate around the 200-day EMA.

The S&P 500 fell initially on Tuesday, but then turned around to show signs of life again.

The NASDAQ 100 broke down a bit on Tuesday as we have continued to see a lot of noisy behavior in the markets.

Gold markets initially pulled back a bit on Tuesday but found enough support underneath to continue going higher.

Bitcoin markets initially fell a bit on Tuesday but then turned around to show signs of life again.

The West Texas Intermediate Crude Oil market initially dipped on Tuesday but has found support yet again like we did on Monday.

The Monero market fell ever so slightly on Tuesday as we have started to see signs of life yet again.

The Ethereum market fell a bit on Tuesday but turned around to show signs of life again.

The EUR/USD pair declined slightly as traders waited for the upcoming Federal Open Market Committee (FOMC) interest rate decision.

The BTC/USD pair made a strong recovery after its deep sell-off during the weekend.

The AUD/USD pair tilted lower in the morning as investors reacted to the strong Australian Consumer Price Index (CPI).

During the beginning of this week's trading, gold prices continued to rise, as investors sought to buy safe assets amid intense selling in global stock markets.