Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday before turning around to show signs of strength.

The bitcoin market has fallen a bit during the trading session on Tuesday, perhaps taking a bit of a breather after the volatile action that we have seen over the last week or so.

Gold markets broke out to the upside during the trading session on Tuesday, clearing the $2000 level handily.

For the second day in a row, the EUR/USD price is moving the in the downward correction amid profit-taking after an upward trend that pushed it towards the 1.1908 resistance, the highest level since May 2018.

The strength of the US dollar contributed to the decline in the price of gold to the $1961 an ounce after a rush at the beginning of trading towards $1985 an ounce.

The pair rebounded to the threshold of the 1.3000 support after its gains last week, which were topped in the testing of the 1.3170 resistance, it’s highest since the beginning of last March’s trading.

With the beginning of this week’s trading, the American currency tried to recover some of its sharp recent losses.

The USD/MXN busted through resistance levels again on Monday, but as of this morning the trading range has developed a narrow band and some slight selling has emerged.

The short term has likely proven destructive for many speculators within the South African Rand.

If you enjoy speculating on unique forex pairs and trying to gauge political intrigues, the USD/PKR may be your best choice.

The Singapore Dollar is a solid barometer of speculative sentiment in the global forex markets.

BTC/USD: Waiting for a bearish correction

USD/JPY: The strength of the decline remains

AUD/USD: Gains will continue to be threatened

GBP/USD: 1.3000 psychological resistance awaits Brexit developments