Forex Daily Forecast, Analysis and Prediction

EUR/USD: More Bearish

The Bitcoin market has rallied slightly during the trading session on Tuesday, as the $5000 level has offered enough support to cause the market to pop a bit.

Silver markets went back and forth during the trading session on Tuesday, bouncing around just above the $12 level after massive selloffs have hit this market.

The WTI Crude Oil market initially rallied during the trading session to reach towards the $30 level,

Gold markets went back and forth during the training session on Tuesday, using the 200 day EMA as a supportive indicator.

The recent decisions of the US Federal Reserve Bank to reduce the interest rate to the threshold of 0% with more quantitative easing plans along with the strict efforts of the US government to stop the bleeding of record losses for the US stock markets.

Despite world concern and record losses for global stock markets led by Wall Street, gold prices continue to decline sharply.

The US dollar went back and forth during the trading session on Monday, as the Federal Reserve cut interest rates by 100 basis points

For five trading sessions in a row, the GBP/USD price is moving inside a violent descending channel that pushed it towards the 1.2201 support, the lowest in five months, before settling around 1.2270 at the time of writing.

In the beginning of this week’s trading, the EUR/USD pair attempted to rebound higher, but gains did not exceed the 1.1236 level.

AUD/USD: New 11-year low prices

The Euro has rallied significantly during the day on Monday, reaching towards 1.1250 level before pulling back a bit.

The S&P 500 has crashed towards the 2400 level, an area that has been supported previously.

USD/JPY: Both currencies relatively strong

The British pound initially tried to rally during the trading session on Monday, reaching as high as 1.24 before rolling over and showing signs of exhaustion.