Forex Daily Forecast, Analysis and Prediction

Today's Gold Support Points: $4610 – $4560 – $4490 per ounce.

Support Levels for EUR/USD Today: 1.1510 – 1.1460 – 1.1390.

Bitcoin holds steady above the $68,000 psychological level despite recent market volatility. Spot Bitcoin ETF inflows have returned, reflecting strong institutional confidence among other BTC price recovery signals.

The USD/MXN exchange rate retreated for the second consecutive day as traders waited for the upcoming Federal Reserve minutes and US and Mexico consumer inflation reports. It retreated to a low of 17.78 on Tuesday, down from the year-to-date high of 18.20.

The NZD/USD exchange rate has slumped in the past few months and has formed a death cross pattern, pointing to more downside as concerns about the New Zealand economy remains.

The Euro rose a bit in early trading on Monday, as the EU would be mainly closed for Easter Monday. Interest rates in the USA continue to be one of the biggest drivers of action.

The US dollar has been very choppy on Monday, as rates continue to dance around important levels in the USA.

Copper finds itself in consolidation as the closure of the Straight of Hormuz will influence the supply offered.

Gold continues to defend the same area on Monday, as the $4600 level is one that has a lot of “market memory” attached to it.

Silver continues to chop around, as we are now testing the 50-day EMA.

The Nasdaq 100 has been positive on Monday, as we continue to move to the whims of Middle East headlines and interest rates in the United States more than anything else.

The US dollar continues to test an important resistance level against the Franc, as we are dancing around the 0.80 level, and area that will attract attention.

The Australian dollar was positive early on Monday, as we continue to see the markets react to interest rates more than anything else at the moment.

Bitcoin rallied on Monday again, despite the fact that there are massive issues in the financial markets at the moment, something that tells me there is real interest in Bitcoin at the moment.

The British pound rallied against the yen on Monday, as the interest rate differential continues to be a major driver.