Forex Daily Forecast, Analysis and Prediction

The S&P 500 has been bullish over the last month or so, although it has played second fiddle to the NASDAQ 100.

The euro has been bullish against the US dollar over the last couple of months, but the month of January left a lot to be desired.

The British pound has been quietly positive during most of January, but at this point we are on the verge of a breakout.

The DAX Index has traversed a fairly middling range the past few days of trading, and speculators with short-term perceptions need to remain focused on technical charts.

It is time for a rethink of the USD/BRL for speculators.

Speculators who have been pursuing the long-term bullish trend of the NZD/USD have important technical ratios to consider.

The USD/INR continues to explore lower support levels incrementally and its bearish trend is showing signs of building momentum.

Sell-offs pushed gold towards the $1838 support level before it recovered amid cautious trading during Tuesday's session around $1855, as of this writing.

The recent recovery of the US dollar did not prevent the GBP/USD currency pair from maintaining its gains steady around the 1.3745 resistance level, after it retreated to the 1.3609 support amid a natural correction.

Despite the improvement in US consumer confidence, the USD/JPY remains stable around the 103.60 support level.

Strong moves in the EUR/USD pair are expected as markets and investors await monetary policy decisions by the US Federal Reserve.

Despite bearish consolidation, support around $30K is still holding.

Euro remains weak compared to other major currencies.

The crude oil markets tried to rally initially during the trading session on Tuesday but gave back the gains as we start to reach towards the FOMC.

The FTSE 100 fluctuated during the trading session on Tuesday, as we continue to bounce around the 6600 level.