Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 pulled back a bit during the trading session on Tuesday as we have lost 1.25%.

The Australian dollar initially pulled back a bit during the trading session on Tuesday to reach down towards the previous uptrend line.

The euro fell to the 1.20 level only to turn around and rally during the trading session.

The British pound initially fell during the trading session on Tuesday to show signs of weakness again, but by the end of the day it turned around completely to form a massive hammer.

The Bitcoin market rallied significantly during the trading session on Tuesday only to struggle at the $50,000 level again.

The gold markets initially fell during the course of the trading session on Tuesday to reach down towards the $1700 level.

The AUD/USD price rose in early trading as the market reacted to the latest Australian GDP and Service PMI data.

The EUR/USD price rose in the overnight session ahead of the important Service PMI numbers and the ADP non-farm payroll numbers.

The fall in value of the NZD/USD was swift late last week, and provides speculative opportunities and lessons for traders.

The USD/BRL experienced a strong bullish run late last week, but the move may not be correlated to the global Forex market entirely.

After last week’s surge higher for the USD/ZAR, traders have an opportunity to speculate and seek the Forex pair’s long-term trend.

The USD/INR saw a massive wave of volatility rip through the Forex pair late last week, which suspended its bearish trend temporarily.

Gold has so far been unable to compensate for its sharp losses during last week’s trading.

Risk appetite has calmed down and talk of exaggerated gains for the British pound in the Forex market recently started.

The USD/JPY pair has been moving in an upward correction range, ultimately testing the 106.89 resistance, its highest in six months, before stabilizing around 106.76 as of this writing.