Forex Daily Forecast, Analysis and Prediction

The euro has broken to the upside during the trading session on Tuesday to clear the 200-day EMA.

The British pound initially tried to rally during the trading session on Tuesday but gave back the gains to fall towards the 50-day EMA.

Gold markets rallied again during the trading session on Tuesday as we continue to see the US dollar slump slightly after the recent rally in yields.

The Australian dollar initially fell during the trading session on Tuesday to reach down towards the 0.76 level.

The Bitcoin market was very quiet again during the trading session on Tuesday as we continue the overall consolidation.

The DAX Index has opened with a strong gap higher and achieved more record values in early trading today.

The past week of trading in ETH/USD has achieved many elements that cryptocurrency speculators crave.

Short-term support levels have been brushed aside as the USD/ZAR has demonstrated that its bearish trajectory can still be contemplated.

The USD/INR is hovering within the middle ground of its higher short-term range and traders may believe it is time to get speculative.

The price direction looks uncertain away from extremes.

Despite the decline of the US dollar with the return of traders from the holiday, the price of gold only rose to the $1733 level before settling around $1728 as of this writing.

The GBP/USD pair corrected upwards to the level of 1.3911, where it settled near at the beginning of Tuesday's trading, which now has bulls eyeing the 1.4000 psychological resistance again.

The USD/JPY pair retreated to the support level of 109.96 before settling around the 110.20 level at the beginning of Tuesday's trading.

The EUR/USD pair's bounce gains were capped as Forex investors temporarily abandoned the dollar by testing the 1.1820 resistance level before stabilizing around 1.1810 at the beginning of Tuesday's trading.

The euro seems to be losing relative weakness.