Forex Daily Forecast, Analysis and Prediction

There will likely be strong support at $1.1261.

The West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier.

The US dollar fell a bit on Tuesday as we continue to consolidate overall.

The CAC broke above the 7300 level as it looks like we are ready to continue going much higher.

The NASDAQ 100 broke down rather significantly on Tuesday, losing almost 2%.

The S&P 500 rallied on Tuesday to reach towards the 4800 level, but as you can see, we have turned around and fallen as we continue to struggle for footing.

The euro went back and forth on Tuesday, showing a real hesitation as to where we are going to go next.

The British pound rallied significantly on Tuesday, breaking above the 1.35 level again.

Gold markets rallied quite nicely on Tuesday, bouncing from the 50-day EMA to show signs of life again.

The Australian dollar rallied quite significantly on Tuesday to reach above the 50-day EMA.

Bitcoin rallied a bit on Tuesday as we continue to use the 200-day EMA as a bit of a magnet for price.

The GBP/USD price rose to a key resistance level after the UK government ruled out further Covid-19 restrictions.

The BTC/USD pair remained in a tight range slightly above a key support level as investors focused on the strong US dollar.

The AUD/USD pair tilted upwards as investors and analysts priced in ending of Australia’s quantitative easing (QE) even as the number of Omicron cases rose.

As soon as investors returned to the markets and liquidity was available after the holiday season, they interacted with the danger posed by the new Corona variable, Omicron.