Forex Daily Forecast, Analysis and Prediction

The Australian dollar drifted a bit lower on Tuesday, as traders are trying to find buyers at lower levels. Ultimately, this is a currency that will outperform many of the other G-10 currencies against the USD.

Silver continues to be very noisy as Monday is a holiday in the USA. The markets continue to see a lot of questions asked of it.

The gold market has been attracted to the $5,000 level for some time, and as we had a holiday on Monday, nothing seems to have changed.

The Euro is currently having issues trying to make a determined move, but seems to be a bit weak at the moment.

The light sweet crude oil market started out the day on the back foot, but at this point in time, it continues to see buyers fighting to keep the market elevated. Are we starting to form the summer range?

The USD/JPY pair continues to see a bit of support below, as we are trying to sort out whether or not the 152-yen level will continue to hold the market up.

The US dollar rallied slightly against the Loonie as we see a major bottom tested near the 1.35 level. At this point, the markets are trying to continue to hold onto the range that we have been in lately.

The euro was very noisy on Monday, as traders continue to try and sort out where the currency pair is going. Keep in mind that the Swiss National Bank is watching very closely how the Franc is behaving.

The British pound fell slightly in shortened trading on Monday, as the Americans will have been celebrating President’s Day.

Bitcoin continues to see a lot of issues above, as the market continues to watch the $72,000 level for a ceiling, or hopefully, a breakout.

The Euro is losing ground to the greenback as short-term Dollar Treasury yields decline towards long-term lows.

The GBP/USD exchange rate remained unchanged in the past few days as investors focus on the upcoming upcoming UK jobs and consumer inflation report. It was trading 1.3625 on Tuesday morning, down substantially from the year-to-date high of 1.3871.

Bitcoin price was stuck in a narrow range on Tuesday morning as the Chinese New Year started and futures open interest dropped to the lowest level since 2024. The BTC/USD pair was trading at 68,500, down sharply from the all-time high of 126,200.

The AUD/USD exchange rate pulled back slightly from the year-to-date high of 0.7160. It retreated to a low of 0.7072 as investors waited for the upcoming Australian jobs report and the Federal Reserve minutes.

After attempting to rise, Bitcoin is just continuing to consolidate below the key resistance level at $71,762 and has also fallen below the former support level at $69,323.