Forex Daily Forecast, Analysis and Prediction

The Euro has initially tried rallying during the trading session on Tuesday but gave back the gains to test the 1.17 handle.

The S&P 500 initially rallied during the trading session on Tuesday but gave back the gains to reach towards the 3210 level.

USD/JPY: 105.00 area technically very significant

BTC/USD: Room remains for lots of upside

The NASDAQ 100 has initially tried to rally during the trading session on Tuesday but seems as if it is stuck in a channel, at least in the short term.

The Australian dollar had a choppy session on Tuesday, initially trying to rally before breaking down towards the 0.71 handle.

GBP/USD: British Pound slightly stronger than Euro

The Singapore Dollar has consolidated the past day and still lingers near crucial support levels. The 1.37750 mark is remarkably close but has not been challenged.

After producing a reasonable bearish trend since the middle of July, the USD/INR has seen a change in momentum the past week of trading as support levels have become more resolute.

Risk appetite has remained strong for the USD/MXN and the forex pair did break vulnerable short term support levels again yesterday.

An important aspect of successful trading is based on patience.

EUR/USD: Bullish trend remains strong above 1.1685

The US dollar has initially tried to rally against the Brazilian real during the trading session on Tuesday but gave back the gains near the 5.20 real level, an area that has both support and resistance on shorter time frames.

The silver markets have been all over the place during the trading session on Tuesday, as we broke above the $26 level during the Asian session, only to turn around a break down below the $23 level.

The gold markets have gone back and forth during the course of the day on Tuesday, initially breaking above the $1960 level in the front month of the futures contract, and even touched the $2000 level in the spot market.