Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair continued its bullish trend as investors waited for the upcoming interest rate decision by the European Central Bank (ECB).

The AUD/USD price rally faded even after some hawkish comments by Philip Lowe, the Reserve Bank of Australia (RBA) governor.

SHIB/USD has made slight gains the past couple of days, but its trading has lacked a huge move higher even as incremental value has been added.

ETH/USD has been able to stage a move higher the past day of trading as it comes within sight of significant short- and long-term resistance.

Spot natural gas prices (CFDS ON NATURAL GAS) rose during the recent trading at the intraday levels, to achieve daily gains as of this writing by 1.28%.

The Dow Jones Industrial Average rose by 0.78% in its recent trading at the intraday levels, to achieve gains in trading on Tuesday, the first day in February.

The price of the Turkish lira declined against the dollar during yesterday's trading, and today's early trading, after the lira rebounded from the support levels located at 13.32.

The pivotal point today looks likely to be $1.1295.

The euro rallied a bit on Tuesday but also pulled back a bit as the market seems a little less confident about the upside than it did just 24 hours ago.

The British pound rallied rather significantly on Tuesday to continue the massive move to the upside.

The DAX Index rallied a bit on Tuesday but did pull back from the 50-day exponential moving average.

The NASDAQ 100 initially fell on Tuesday but has turned around to smash into the 200-day EMA.

The US dollar was subjected to selling operations recently to take profits after its sharp gains due to the expectations of raising US interest rates, which allowed the gold market to recover yesterday.

The US dollar may be set for a softer February month according to analysts, a view that could carry a return to its 2022 highs for the pound-dollar exchange rate.

The S&P 500 rallied a bit on Tuesday to test the overall 4500 range.