Forex Daily Forecast, Analysis and Prediction

XRP/USD has correlated with its major cryptocurrency counterparts and experienced a sustained bearish trend, while hitting new mid-term lows yesterday.

The USD/BRL came off important highs yesterday and reversed to support levels which have proven adequate the past handful of days.

A slight reversal higher in early USD/JPY trading this morning has been demonstrated, but short-term speculators should still consider the larger trend.

The USD/INR has continued to traverse within the higher realms of its short-term range as risk-averse trading seems to have created more durable support.

Gold has been trying to recover from recent selloffs, which pushed it towards the $1741 support level, its lowest in about a month-and-a-half.

Amid bearish pressure and sell-offs, the USD/JPY pair will see the US Federal Reserve's policy decisions today.

As previously forecasted, the EUR/USD has been in a narrow range ahead of the Federal Reserve FOMC meeting minutes release today.

Bitcoin has lost almost 20% in just a few days.

The GBP is becoming relatively weaker.

The US dollar fluctuated on Tuesday as we continue to bang up against the 1.28 handle.

The FTSE 100 rallied a bit on Tuesday to break above the top of the hammer that formed on Monday.

The euro initially rallied on Tuesday but has turned quite bearish by the end of the day to form a bit of a shooting star.

The British pound initially rallied on Tuesday but gave back gains near the 1.37 level to form a bit of an inverted hammer.

The gold market initially pulled back just a bit on Tuesday but turned around to show signs of strength again.

The Australian dollar initially tried to rally on Tuesday but gave back the gains rather quickly.