Forex Daily Forecast, Analysis and Prediction

Amid recent selling, the EUR/USD moved to the 1.1990 support level, then made an upward correction after buyers returned and settled around 1.2094 as of this writing.

Price above $50K is a bullish sign if it holds up today.

British state budget likely to be the key driver today.

The FTSE 100 fluctuated during the course of the trading session on Tuesday, reaching down towards the 50-day EMA, which is currently sitting at the 6528 level.

The DAX index initially pulled back a bit during the trading session on Tuesday but found buyers underneath the 14,000 level to continue to push to the upside.

The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Tuesday but gave back the gains as we fell below the $60 level a couple of times during the session.

The S&P 500 pulled back just a bit during the trading session on Tuesday to reach down towards the 3080 handle.

The NASDAQ 100 pulled back a bit during the trading session on Tuesday as we have lost 1.25%.

The Australian dollar initially pulled back a bit during the trading session on Tuesday to reach down towards the previous uptrend line.

The euro fell to the 1.20 level only to turn around and rally during the trading session.

The British pound initially fell during the trading session on Tuesday to show signs of weakness again, but by the end of the day it turned around completely to form a massive hammer.

The Bitcoin market rallied significantly during the trading session on Tuesday only to struggle at the $50,000 level again.

The gold markets initially fell during the course of the trading session on Tuesday to reach down towards the $1700 level.

The AUD/USD price rose in early trading as the market reacted to the latest Australian GDP and Service PMI data.

The EUR/USD price rose in the overnight session ahead of the important Service PMI numbers and the ADP non-farm payroll numbers.