Forex Daily Forecast, Analysis and Prediction

BTC/USD: Break below $11,400 is technically significant

The S&P 500 is likely to continue going higher longer term, but at this point in time it is likely that we will see the market pull back just a bit, perhaps looking for some type of stabilization or a validation to go higher.

The British pound has recovered nicely during the trading session on Tuesday, breaking above the inverted hammer from the previous session.

GBP/USD: Yet several failed recent pushes up

EUR/USD: No directional bias

Silver markets have pulled back just a bit during the trading session on Tuesday as we continue to test the $26 level for support.

The West Texas Intermediate Crude Oil market has rallied during the course of the trading session on Tuesday, as the 200 day EMA underneath continues to offer support.

The bitcoin markets have fallen during the trading session on Tuesday, reaching towards the $11,300 level.

The gold markets fell a bit during the trading session on Tuesday as we continue to see a lot of noisy action in the markets.

Speculators of the USD/SEK have certainly seen plenty of sideways trading the past month, but choppy conditions have also allowed traders to use resistance levels in order to engage in selling.

AUD/USD: Even balance between 0.7139 and 0.7217

USD/JPY: No long-term trend

Speculators who have pursued the bearish trend of the USD/INR the past few months may be patting themselves on the shoulder this morning.

The USD/ZAR’s bearish trend certainly has generated more power since late last week.

The USD/PKR bullish trend remains strong and traders who are brave enough to speculate on this Forex pair will need to practice persistence