Forex Daily Forecast, Analysis and Prediction

BTC/USD: Strong support at $10,557

The silver markets gapped higher to kick off the trading session on Tuesday and broke even higher to reach towards the $24.40 level by the time the open outcry session ended.

The market has been very noisy during the trading session on Tuesday, as we continue to see volatility in the S&P 500.

GBP/USD: Yet strong support at 1.2785

EUR/USD: Strong resistance likely at 1.1775

The Euro has rallied rather significantly during the trading session on Tuesday, slicing through the 50 day EMA but the market is facing a significant amount of resistance near the 1.1750 level, an area that is important on shorter-term charts.

The Bitcoin market continues to oscillate in a relatively tight range, using the $11,000 level as resistance.

The Australian dollar has rallied significantly during the trading session on Tuesday, slicing through the 0.71 handle.

The British pound rallied a bit during the trading session on Tuesday, but as you can see, we continue to fail to break above the 50 day EMA.

The US dollar initially pulled back a bit during the trading session on Tuesday, but then rallied significantly to reach towards the ¥105.70 level.

For the second day in a row, the EUR/USD currency pair is trying to rebound to the upside after sell-offs that pushed it towards the 1.1612 support, its lowest in two months, and is currently stabilizing around 1.1680, awaiting any new developments.

The yellow metal is trying to confirm that it is the best safe haven for investors despite recent selloffs.

Contrary to last week’s performance, the GBP/USD currency pair started this week’s trading amid positive performance.

As can be seen on the USD/JPY daily chart, there are several attempts to breach the resistance level at 105.70 for three trading sessions in a row, but the pair lacks sufficient momentum to cause this to happen.

AUD/USD: Upwards move could continue to 0.7182