Forex Daily Forecast, Analysis and Prediction

Gold markets have continued to show one thing over the last several months: that they are more than willing to step in and pick up gold every time it dips.

Despite the stronger than expected reading of the German ZEW index, the EUR/USD pair continued to decline, and accordingly, it took off towards the 1.1227 support before settling around the 1.1260 level at the time of writing.

Gold prices rose to offset the losses of the previous two sessions, as geopolitical tensions and Fed Chairman Jerome Powell's makes cautious statements about the economic recovery.

During yesterday's trading, the GBP/USD pair attempted an upward correction.

During yesterday's session, the USD/JPY traded within a limited range that did not exceed 40 points.

The S&P 500 has rallied significantly during the trading session on Tuesday, especially during the Globex session as Asian and European traders jumped all over the S&P 500.

The Dax Index has continued to achieve gains in trading early this morning.

The US dollar rallied a bit during the trading session, reaching towards the ¥107.50 level.

While the USD/MXN trades in a rather well-practiced range, what looks particularly interesting is that resistance up above seems to have shown signs of becoming stronger and is causing reversals.

The British pound initially tried to rally during the trading session on Tuesday, and even stretched all the way to roughly 1.27.

The Australian dollar has gone back and forth quite a bit during the trading session on Tuesday, as we initially tried to reach towards the 0.70 level

The NASDAQ 100 rallied a bit during the trading session on Tuesday, reaching towards the $10,000 level before pulling back in what was a very volatile trading session.

The Euro fell during the trading session on Tuesday as Jerome Powell spooked the market.

AUD/USD: 0.6841 looks pivotal

Pakistan changed its Covid-19 strategy to limit economic damage.