Forex Daily Forecast, Analysis and Prediction

DOGE/USD was provided with a speculative feast yesterday when news made its way through social media that Elon Musk had issued a rather intriguing statement.

The US dollar remains strong in the Forex market as investors begin to flock to traditional safe-haven assets amid an ocean of red ink in global financial markets.

Gold futures contracts joined the financial markets that are negatively affected, as gold fell to $1766 before settling around $1772 as of this writing.

The GBP/USD has been moving in narrow ranges with a stable bearish bias around the 1.3240 level, and yesterday touched the 1.3190 support level after the improvement in British jobs and wages numbers.

Today's trading session is important for the EUR/USD, as the US Federal Reserve will announce its decision regarding tightening its monetary policy.

The US dollar initially fell on Tuesday but turned back around to cross the 16 rand level.

The West Texas Intermediate Crude Oil market initially tried to recover after a gap lower on Tuesday.

The euro initially tried to rally on Tuesday but gave back early gains to show signs of weakness again.

The British pound went back and forth on Tuesday as we continue to hang about the 1.32 handle.

The gold markets fell again on Tuesday as we continue to see a lot of negativity out there.

The Australian dollar initially sold off on Tuesday but turned around to show signs of life again later in the day.

The S&P 500 fell rather hard on Tuesday as we try to discern what is going to happen next.

The NASDAQ 100 broke down again on Tuesday as traders await the results of the two-day meeting from the Federal Reserve.

The US dollar initially sold off on Tuesday but found plenty of support near the 5.6 real level to turn things around and show signs of life again.

The AUD/USD pair has been wavering in the past few weeks ahead of the latest interest rate decision by the Federal Reserve.