Forex Daily Forecast, Analysis and Prediction

USD/JPY: Long-term double bottom at 104.00 possible

The US dollar has rallied significantly during the trading session on Tuesday to show signs of resiliency.

The bitcoin market has dipped slightly during the trading session on Tuesday, as we continue to see a lot of confusion.

BTC/USD: $10k area may be supportive

The S&P 500 has pulled back a bit during the trading session on Tuesday but then turned around to show a certain amount of resiliency.

The Australian dollar has fallen a bit during the trading session on Tuesday, showing signs of exhaustion yet again as the market continues to see a lot of volatility and potential downward pressure.

GBP/USD: New multi-month low price

The NASDAQ 100 initially fell a little bit during the trading session on Tuesday but have turned around to show signs of strength.

EUR/USD: Significant price is well below 1.1750 area

The silver markets went back and forth during a very choppy and miserable day in the pits, as the market could not decide what it wanted to do.

The Euro has broken down significantly during the trading session on Tuesday, reaching down towards the 1.17 handle, and even poking through at one point.

Gold markets fell again during the trading session on Tuesday but seem to be finding a bit of interest near the $1900 level.

The West Texas Intermediate Crude market did very little during the day on Tuesday, as we stabilized a bit after the massive selloff on Monday.

The British pound has broken below the 200 day EMA during the trading session on Thursday as we continue to see a lot of weakness when it comes to Sterling.

Continuing the downward path of the EUR/USD pair, the pair fell to the 1.1731 support at the beginning of this week’s trading, its lowest level in more than a month, before stabilizing around the 1.1753 level at the time of writing and before the important testimony of US Federal Reserve Governor Jerome Powell Later today.