Forex Daily Forecast, Analysis and Prediction

We indicated from last week that the opportunity for gold prices to drop to $1908 an ounce is best suited to buy in light of the USD recovery.

Increasing concern over the future of Brexit and the recovery of the USD caused a sharp collapse in GBP/USD currency pair, and accordingly, bears in the pair moved towards the 1.2950 support at the time of writing.

The bulls failed to push the USD/JPY higher than the 106.55 resistance, and with the renewed global geopolitical tensions and the investors’ appetite for safe havens, the Japanese yen was more popular.

AUD/USD: Pivotal zone around 0.7250

The Euro initially tried to rally during the trading session on Tuesday, but as you can see, it fell a bit to break down through a trendline.

The US dollar has initially tried to rally against the Japanese yen but fell rather hard to slice through the ¥106 level before turning right back around.

The Australian dollar has fallen a bit during the trading session on Tuesday and what would have been noted as a “risk-off session” around the world.

The US dollar has bounced rather significantly against the Mexican peso during the trading session and everything else that is traded against it on Tuesday.

USD/JPY: Yen not highly preferred to Dollar as Safe Haven

BTC/USD: Bulls providing support

GBP/USD: Pound weakens on E.U. trade deal fears

The NASDAQ Composite will be watched by global investors and speculators carefully today.

The British pound has broken down significantly during the trading session on Tuesday as traders pushed the cable pair below the 1.30 level.

The NASDAQ 100 has broken down significantly during the trading session on Tuesday, cranking below the 50 day EMA, and testing near the 11,000 handle.

The S&P 500 has fallen rather hard during the trading session again on Tuesday, reaching down towards the 50 day EMA.