Forex Daily Forecast, Analysis and Prediction

Bitcoin bounces from multi-month low to rise by more than 15%.

Nearest support and resistance levels look firm.

At least we have stopped falling, which is the first step to some type of recovery.

The US dollar rallied a bit during the trading session on Tuesday as we continue to test the ₹74.50 level.

Bitcoin fell rather hard during the trading session on Tuesday, breaking down below the $30,000 level.

The euro has initially fallen a bit during the trading session on Tuesday, but then turned around to show signs of strength as Jerome Powell testified in front of Congress.

The British pound initially pulled back a bit during the trading session on Tuesday, but then turned around to show signs of stability again.

The EUR/USD retreated slightly during the overnight session as investors reacted to Jerome Powell’s testimony to Congress.

The AUD/USD pair retreated during the Australian session as investors reacted to the latest Australian Manufacturing and Services PMI numbers and the new lockdown in Sydney.

For the second day in a row, the price of the EUR/USD currency pair is trying to correct upwards after sharp selling operations that pushed it towards the 1.1847 support level.

For the second day in a row, gold futures contracts continue to bounce up after the sharp decline last week.

Ahead of the expected testimony of US Central Bank Governor Jerome Powell today, the USD/JPY currency pair maintains its bullish momentum.

The recent bearish correction of the GBP/USD currency pair was sharp, which plunged the pair to the 1.3786 support level, the lowest in a month and a half.

DOT/USD continues to see bearish sentiment break beneath support levels which have proven vulnerable.

XRP/USD has seen a swift selloff in the past couple of days and important mid-term support junctures have proven vulnerable.