Forex Daily Forecast, Analysis and Prediction

The Australian dollar continues to sit still at an extremely low level, as the market has done almost nothing for the last couple of days.

The S&P 500 initially tried to rally during the trading session on Tuesday but gave back the gains as the 50 day EMA continues to offer resistance,

GBP/USD: Can bulls defend 1.2953?

The NASDAQ 100 initially tried to rally during the trading session on Tuesday but then broke down significantly yet again in a repeat of what had happened on Monday.

The 1.30 level is of course a large, round, psychologically significant figure that a lot of traders will pay attention to.

The natural gas markets have done very little during the trading session on Tuesday, as we continue to see volatility in other markets.

The West Texas Crude Intermediate Oil market has initially tried to rally during the trading session on Tuesday but then collapsed back into the $50 level again.

The German index initially tried to rally during the trading session on Tuesday but found resistance at the previous uptrend line.

Gold markets tried to pull back a bit during the trading session on Tuesday, but also saw some buying at the lower levels to turn things around and stabilize a bit.

Fourth-quarter GDP data out of Turkey confirmed the economic recovery with a 5.0% expansion, the average growth rate over the past two decades.

With Covid-19 days away from being declared a global pandemic, safe-haven assets continue to enjoy demand.

UK economic data has consistently surprised to the upside since Prime Minister Boris Johnson secured an overwhelming majority in the House of Commons

EUR/USD: Pivotal point at 1.0889

For the second consecutive day, the USD/JPY pair was exposed to profit-taking sales after the pair moved towards the 112.22 resistance at the end of last week’s trading.

AUD/USD: Breakdown towards 0.6500 looks likely