Forex Daily Forecast, Analysis and Prediction

In early trading this morning, the USD/SGD has provided a small reversal higher, which may prove to be a trading opportunity for bearish speculators.

Gold is still in a bullish trend, although it is starting to look somewhat shaky.

The market is looking a bit confused, and therefore a bit stagnant.

The euro initially tried to rally during the trading session on Tuesday but has failed again at the 1.2250 level.

At this point, the market looks as if it simply does not have the will to break out.

This could be a miserable week if you are looking for a bigger move.

This is a market that is trying to figure out where to go next, and the trading session showed just how all over the place we could be.

The price holding up from the $30k area is a bullish sign.

The West Texas Intermediate Crude Oil market broke to the upside to smash through the top of an ascending triangle that we have been building up for some time.

The question now is whether or not we are trying to build up some type of basing pattern.

Bitcoin markets were a bit choppy during the trading session on Tuesday as we continue to sit at the 200-day EMA.

This is a market that is in a bullish trend, but it is obviously very volatile.

The FTSE 100 fluctuated during the trading session on Tuesday to reach out towards the 7000 level but then recovered nicely to pick up 77 points from there.

The 1.4100 area is likely to be pivotal today.

The AUD/USD held relatively steady as the Australian government expanded the new lockdown in Victoria for seven more days to curb the new pandemic.