Forex Daily Forecast, Analysis and Prediction

The all-time high at $61K came into sight again.

The continued strength of the US dollar and bond yield gains contributed to the collapse of the price of gold to the $1679 support level before stabilizing around $1685.

Amidst a sharp struggle between bears and bulls for the performance of the GBP/USD, the bears succeeded in pushing the pair towards the 1.3705 support level.

The USD/JPY pair succeeded in moving towards the 110.42 resistance level, its highest in a year, before settling around the 110.30 level as of this writing.

The bearish momentum of the EUR/USD continued, reaching a 4-month low at the 1.1710 support, as the pair trades in the last session of Q1 2021.

The Euro has fallen hard during the course of the trading session on Tuesday to reach down towards the 1.17 level.

The Australian dollar has initially tried to rally during the trading session on Tuesday but gave back the gains to fall rather hard.

The DAX rallied significantly during the trading session on Tuesday to finally reach towards the 15,000 level.

The British pound initially tried to rally on Tuesday but found the 50 day EMA to be a bit resistive again, just as it had on Monday.

The gold markets have broken down a bit during the trading session on Tuesday to slice down through the $1700 level again.

The NASDAQ 100 has fallen a bit during the trading session on Tuesday, as the 50 day EMA has caused a bit of resistance.

The S&P 500 continues to show signs of noise in general, and it now looks like the market is going to be a “buy on the dips” type of scenario every time it happens.

The US dollar has rallied significantly during the trading session on Tuesday to reach towards the 50 day EMA again.

The West Texas Intermediate Crude Oil market has gapped higher to kick off the Tuesday session, but seems to be respecting the previous uptrend line as resistance.

Bitcoin markets rallied again during the trading session on Tuesday to reach towards the $60,000 level.