Forex Daily Forecast, Analysis and Prediction

A recent poll revealed that almost 50% of surveyed economists believe the US will enjoy a U-shaped recovery sooner than expected

USD/JPY: Both currencies are strong

BTC/USD: New higher support gives mixed picture

GBP/USD: Support at 1.2252 looks strong

EUR/USD: Ranging price action

The S&P 500 has had a rough session on Tuesday, as the 50 day EMA continues to offer significant resistance right at the psychologically important 2800 handle.

The Euro has gone back and forth during the trading session on Tuesday, simply because we are hanging around a very highly contested area.

The US dollar initially fell during the trading session on Tuesday but bounced enough to turn around and form a little bit of a hammer.

The NASDAQ 100 is starting to adjust to a new reality, at least that is what it is starting to look like right now.

The British pound has fallen a bit during the trading session on Tuesday, breaking below the 1.23 level before bouncing slightly.

The Australian dollar fell significantly during the trading session on Tuesday, reaching down towards the 0.6250 level and then promptly bounced from there.

Silver markets fell hard during the trading session on Tuesday, as the 50 day EMA looks to be offering a significant amount of resistance.

For those of you who are diehard Bitcoin holders, this has to be one of the strangest markets to deal with right now.

Gold markets are more than likely going to continue going higher after the action that I have seen in the market on Tuesday.

The West Texas Intermediate Crude Oil market has fallen apart during the trading session on Tuesday after a historic day on Monday with the May contract printing a negative level.