Forex Daily Forecast, Analysis and Prediction

The strength of the US dollar has stopped, and confidence has returned, even if temporarily, to the global financial markets.

As was the performance with other major currencies, the pound succeeded in making some gains, taking advantage of the weakening dollar.

In light of a temporary pause in the recent US dollar gains, the EUR/USD pair got a momentum towards the 1.0888 resistance.

AUD/USD: Pivotal point at 0.6094

USD/JPY: Yen getting weaker over time

BTC/USD: Strong resistance likely at $7,228

The US dollar initially fell during the trading session on Tuesday, but yet again had seen buyers near the ¥110 level to turn things around and form a massive hammer.

The Euro rallied a bit during the trading session on Tuesday but gave back a significant amount of the gains in order to form a bit of an inverted hammer.

The British pound started out the day just above the 1.15 level but found enough buying to turn things around and reach towards the 1.17 level,

As traders digest the idea of a potential stimulus package, stock markets in the United States have skyrocketed.

The Australian dollar rallied during the trading session on Tuesday, reaching towards the 0.60 level above before pulling back.

GBP/USD: Significant recovery in price

The S&P 500 has formed a very bullish candlestick during the trading session on Tuesday, breaking above the top of the candlestick from the previous session.

EUR/USD: Medium/Long-term bottom at 1.0639

Following the initial liquidity rush across the global financial system, which sparked the US Dollar to multi-year highs, fundamentals are slowly resurfacing.