Forex Daily Forecast, Analysis and Prediction

GBP/USD attempts to bounce back upward are still weak despite the decline in the US dollar, as gains did not exceed 1.2542 before settling around 1.2520

Covid-19 infections continue to rise, with North and South America accounting for the most significant increase.

India’s Chief Economic Adviser Krishnamurthy Subramanian continues to believe the economy is on track for a V-shaped recovery, irrelevant of what developments take place.

BTC/USD: Bullish bounce from support looking likely

Following the testimony of Dr. Anthony Fauci, the Director of the National Institute of Allergy and Infectious Diseases (NIAID) and member of the White House Covid-19 taskforce, to Congress yesterday, the US Dollar came under selling pressure.

The S&P 500 broke down a bit during the trading session on Tuesday, reaching down towards the 3050 handle before finding buyers to form a bit of a hammer.

Silver markets have rallied again during the trading session on Tuesday, as we have crossed above the $18 level.

The West Texas Intermediate Crude Oil market has reached towards the $41 level before pulling back slightly.

Brazil became the second country to register over 50,000 deaths related to the Covid-19 pandemic behind the US.

The Bitcoin market has stalled out a bit during the trading session on Tuesday, digesting the gains from the positive Monday session.

The NASDAQ 100 has had an interesting day, pulling back during the early hours to reach towards the 10,000 level before finding buyers yet again.

Gold markets have rallied yet again during the trading session on Tuesday, reaching towards the $1785 level towards the end of the pit session.

GBP/USD: Bullish breakout from price channel looking very weak

EUR/USD: Yet potential bearish double top at 1.1354

The Australian dollar initially pulled back a bit during the trading session and then shot towards the 0.70 level during the trading day.