Forex Daily Forecast, Analysis and Prediction

Despite the strong gains of the US dollar against the rest of the other major currencies, the GBP/USD pair showed steadfastness.

The Japanese yen fell against the rest of the major currencies with the continued pressure on the Japanese economy from the effects of the pandemic.

For the second day in a row, the price of gold is trying to recover from the losses of the first trading session for the year 2022.

SHIB/USD remains within a bearish stance, and the speculative asset is within sight of important support which may be causing speculative nervousness to grow.

ETH/USD is fighting for value in a rather consolidate price ranged, but the cryptocurrency is also experiencing an incremental decline technically.

There will likely be strong support at $1.1261.

The West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier.

The US dollar fell a bit on Tuesday as we continue to consolidate overall.

The CAC broke above the 7300 level as it looks like we are ready to continue going much higher.

The NASDAQ 100 broke down rather significantly on Tuesday, losing almost 2%.

The S&P 500 rallied on Tuesday to reach towards the 4800 level, but as you can see, we have turned around and fallen as we continue to struggle for footing.

The euro went back and forth on Tuesday, showing a real hesitation as to where we are going to go next.

The British pound rallied significantly on Tuesday, breaking above the 1.35 level again.

Gold markets rallied quite nicely on Tuesday, bouncing from the 50-day EMA to show signs of life again.

The Australian dollar rallied quite significantly on Tuesday to reach above the 50-day EMA.