Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rallied rather significantly again on Tuesday as we continue to see a lot of concerns when it comes to oil disruption, especially as the Biden administration has now banned all Russian imports into the United States.

The US dollar initially tried to rally against the South African rand on Tuesday but continues to dance around the 50-day EMA.

Bitcoin markets rallied just a bit on Tuesday to show signs of life again.

Ethereum markets bounced a bit on Tuesday as the $2500 level seems to have held again.

Ripple did very little on Tuesday as we continue to look for some type of catalyst to get moving.

The NASDAQ 100 went back and forth on Tuesday to reach down towards the crucial 13,000 level.

The S&P 500 went back and forth on Tuesday as we hang about the crucial 4200 level.

Wheat markets gapped higher to kick off a huge move on Tuesday but had a very volatile session.

The GBP/USD pair dropped below a key support level as concerns about the state of the UK economy as the crisis in Ukraine continues.

The EUR/USD pair continued its bearish trend in the overnight session as risks of a European recession rose.

The AUD/USD pair dipped below a key support level as concerns about the global economy continued.

The GBP/USD exchange rate fell sharply last week and may be subject to more losses.

The price of the euro against the dollar entered the new week’s trading near its lowest level in two years and may be subject to more losses.

Spot natural gas prices (CFDS ON NATURAL GAS) declined during the recent trading at the intraday levels, to record new daily losses until the moment of writing this report, by 2.27%.

The gold market got a bullish price gap that pushed it towards the psychological resistance level of 2002 dollars an ounce.