Forex Daily Forecast, Analysis and Prediction

The Australian dollar has rallied a bit during the trading session on Tuesday, and even made a fresh, new high.

The US dollar initially fell against the Mexican peso during the trading session on Tuesday, reaching down towards the 22 MXN level.

The US dollar has fallen hard against the Japanese yen during trading on Tuesday, as we continue to see the greenback get hammered.

The Euro has broken above a significant resistance in the form of the 1.19 level, as the consolidation area that we had been in is finally in our rearview mirror.

The British pound has broken out to the upside during the trading session on Tuesday, clearing the 1.3150 level.

For the fifth day in a row, the EUR/USD pair is moving in an upward correction range, which reached the 1.1881 resistance before settling around 1.1870 at the beginning of the trading session on Tuesday.

As investors abandon the USD, the price of the GBP/USD remains in a stable upward correction range above the 1.3100 resistance, awaiting stronger incentives to achieve more gains.

At the beginning of this week's trading, the bears tried to move the price of gold down to $1929 an ounce.

For the third day in a row, the USD/JPY is moving in the same long-term downtrend towards the 105.92 support at the beginning of Tuesday's trading.

AUD/USD: Quietly bullish

The past five days of trading within the USD/INR have offered speculators a tight trading range with just enough price action to take advantage of its limited movements.

Risk appetite has helped the USD/MXN create a rather solid bearish trend since early August.

The past five days of trading have seen the USD/ZAR halt the bullish trend which emerged in late July.

USD/JPY: Support at 105.28 looks strong

The Pakistani Rupee remains near critical resistance levels, but price action suggests an opportunity exists for brave speculators to actually sell this forex pair.