Forex Daily Forecast, Analysis and Prediction

After the GBP/SGD completed a breakout above its support zone, the downtrend ended.

Following a price spike in this currency pair, which led to a brief move above its short-term resistance zone, a bearish chart pattern emerged.

Eurozone economic data, led by Germany, continues to show structural weakness.

Tensions between the US and Iran appear to be easing for now, and traders will be able to pay closer attention to fundamentals.

EURUSD: Weakly bearish below @1.1128

The Euro has broken down significantly during the trading session on Tuesday, as the 1.12 level continues offer a significant amount of resistance.

Natural gas markets gapped higher to kick off the trading session on Tuesday, but then fell rather hard to not only fill the gap at break down below it.

The NASDAQ 100 is very likely to continue turning back and forth during the week, as we get the jobs figure in the United States at the beginning of Friday

The British pound has been a bit noisy during the trading session on Tuesday, as we continue to dance around the 1.31 level.

AUDUSD: Bearish below 0.6882

USDJPY: Bearish on risk-off sentiment

In the beginning of this week’s trading, the USD/JPY pair plunged to the 107.76 support.

The S&P 500 did almost nothing during the trading session on Tuesday, as we are heading towards a Non-Farm Payroll Friday.

For three consecutive trading sessions, the GBP/USD pair is trying to correct higher, but its gains did not exceed the 1.3211 resistance, before settling back down around the 1.3100 support at the time of writing.

The West Texas Intermediate Crude Oil markets gapped lower to kick off the trading session on Tuesday but found enough support near the $62.50 level to turn around and show signs of life again.