Forex Daily Forecast, Analysis and Prediction

The S&P 500 has rallied a bit during the trading session here on Tuesday but gave back early gains as we are getting a little bit stretched.

The NASDAQ 100 has rallied initially on Tuesday but gave back the gains as we reached towards the all-time highs.

The CAC Index is currently grinding away, trying to eclipse the 6800 level.

The FTSE 100 has broken out during the trading session on Tuesday as we continue to see a little bit of a push to the upside.

Gold markets have pulled back a bit during the trading session on Tuesday again, as we continue to see a lot of resistance just above.

The Australian dollar has rallied a bit on Tuesday to break above the 0.75 level, but then got hammered in the middle of the day, only to turn around and rally again.

Bitcoin markets have gone back and forth on Tuesday as we continue to try and digest gains from the massive move higher.

The support at $1.3741 is likely to be pivotal.

The EUR/USD declined for the second consecutive day as investors reflected on the strong American consumer confidence and the upcoming European Central Bank (ECB) meeting.

The AUD/USD pair rose for the third straight day as investors reacted to the latest Australian consumer inflation data.

At the beginning of this week’s trading, the price of gold recorded gains that reached the $1810 resistance.

The USD/MXN is near the 20.15000 ratio as of this morning as it hovers over important short term lows and close to significant mid-term prices.

Recent profit-taking pushed the USD/JPY towards the 113.41 support level, with the pair settling near the 114.00 resistance as of this writing.

The USD/SGD is trading near the 1.34800 level as of this writing as its value range fights displays quick price velocity.

XRP/USD has demonstrated an abundance of consolidation the past handful of days.