Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market initially pulled back on Tuesday but turned around to continue the overall bouncing that we have seen over the last couple of months.

The US dollar has rallied again on Tuesday as we have tested the 1.28 level against the Loonie.

Bitcoin initially tried to rally on Tuesday but gave back gains to show signs of hesitation again.

The euro fell rather hard on Tuesday as we are now approaching the 1.06 handle.

The British pound initially had a push to the upside on Tuesday but gave back gains underneath the 1.28 level.

The GBP/USD pair is falling for the fifth straight day as worries about the next actions by the Bank of England (BOE).

The EUR/USD pair continued its bearish trend as the strength of the US dollar continued.

The BTC/USD pair crashed to the lowest level since March 2022 as global risks rose and investors continued being fearful.

The Dow Jones Industrial Average rose during its recent trading at the intraday levels, to achieve gains in its last sessions, by 0.70%.

The Turkish lira fell against the dollar as investors followed up on the report of the International Monetary Fund on Monday.

After hitting one month lows while trading yesterday, AVAX/USD has produced a reversal upwards but some speculators may be suspicious of the move.

ETH/USD has staged a reversal higher in early trading this morning, but this has not swept away nervous sentiment which technically still remains vivid.

Strong gains for the US dollar from expectations of raising interest rates higher than previously expected contributed to the decline in the price of gold for six trading sessions in a row.

Expectations of raising US interest rates strongly during 2022 still support strong gains for the US dollar against the rest of the other major currencies.

The GBP/USD price entered the new week's trading to test a key level of support on the charts with only limited recovery prospects after a long string of losses.