Forex Daily Forecast, Analysis and Prediction

USD/JPY: Flat as both currencies following same paradigm

The USD/SGD created a surge of selling the past couple of days and speculators now have a different short term technical trading landscape which they have to carefully consider.

BTC/USD: Price back below pivotal point at $9,331

The silver market rallied significantly during the trading session on Tuesday, breaking above the $21 level rather handily.

The NASDAQ 100 initially broke above the 11,000 level during the trading session on Tuesday but pulled back significantly to form an exhaustive looking candlestick.

GBP/USD: British Pound has no real relative strength

The gold markets rallied significantly during the trading session on Tuesday as we are reaching towards the $1850 level.

The West Texas Intermediate Crude Oil market has broken above the 200 day EMA during the trading session on Tuesday, as it looks like we are ready to break through the $42 level.

The S&P 500 rallied a bit during the trading session on Tuesday but did give back quite a bit of the gains.

EUR/USD: U.S. Dollar is selling off strongly

The Australian dollar has broken through the 0.71 level, which I have been looking at as a major barrier extending all the way from the 0.70 level.

The British pound has broken higher during the trading session on Tuesday, breaking above the 1.2750 level.

The US dollar has initially tried to rally during the trading session on Tuesday but failed again at the 50 day EMA.

The US dollar has broken down significantly against the Brazilian Real, as we have seen the US dollar gets hammered against almost everything.

The Euro had an explosive trading session during the day on Tuesday as we initially dipped.