Forex Daily Forecast, Analysis and Prediction

The US dollar has pulled back a bit during the trading session on Tuesday, reaching down towards the 61.8% Fibonacci retracement level yet again.

The Bitcoin market has tried to rally again during the trading session on Tuesday but has also failed again.

The NZDUSD just completed a breakout above its support zone which is marked by the grey rectangle in the chart.

The S&P 500 fell immediately during the trading session on Wednesday, only to find buyers below at the top of the recent consolidation that we have just broken out of.

The Australian dollar went back and forth during the trading session on Tuesday, slicing around the 0.6850 level.

The Euro continues the chop around without any type of direction, as per usual.

In the United States, there is a long running joke when the stock market suddenly rally based upon liquidity that “everything is awesome”, which is a reference to the song out of the Lego movie.

The British pound went back and forth during the trading session on Tuesday, as we continue to see volatility everywhere.

Natural gas markets initially tried to rally during the trading session on Tuesday, breaking towards the $2.65 level before finding selling again.

As this currency pair is approaching its 61.8 Fibonacci Retracement Fan Support Level, bearish momentum started to decrease.

Gold markets have fallen during the trading session on Tuesday, to break below the $1500 level.

USDCAD: Bearish below 1.3192

USDCHF Analysis: Bullish above 0.9946

GBPUSD: Bullish consolidation above 1.2300

EURUSD: Consolidation above 1.1021