Forex Daily Forecast, Analysis and Prediction

The gold markets fell a bit during the trading session on Tuesday as traders came back to work, in a major “risk on” type of situation.

The silver markets have gone back and forth during the trading session on Tuesday as volumes increased instead of the holiday session that we had seen on Monday.

The bitcoin markets have fallen just a bit during the trading session on Tuesday, as we have seen quite a bit of noise as of late.

The West Texas Intermediate Crude Oil market continues to see a lot of resistance near the $34 level as it is the beginning of the gap higher.

South Africa’s business community welcomes the further easing of lockdown restrictions, with the disease alert level set to decrease in June 1st to 3.

Japan’s Prime Minister Abe decided to lift the state of emergency for Tokyo, while the government is considering a second stimulus worth ¥100 trillion.

Financial markets have moved past the looming negative impacts of the global Covid-19 pandemic and believe trillions of dollars in new government debt

There was no movement of the USD/JPY pair in the beginning of this week’s trading, as the performance remained between the 107.54 level and the 107.77 level throughout Monday trading. In the beginning of Tuesday’s trading, the pair settled around the 107.72 level.

Gold price gave up some of its gains in the beginning of this week’s trading, as it fell from the $1733 resistance, reaching the 1721 support before settling around the $1726 level in the beginning of today’s trading.

For five consecutive trading sessions, the GBP/USD pair has been moving in a very limited and narrow range with a downtrend, and this performance technically foreshadows a strong movement coming in either direction.

A quiet start to the EUR/USD pair in a limited range between the 1.0870 support and the 1.0914 level, despite the announcement of a positive German IFO index reading.

AUD/USD: New 2-month high price

USD/JPY: Weakly bullish with low volatility

Retail demand pushed equity markets into resistance levels, while institutional activity remains subdued, as evidenced in the lack of volume during this bear market rally.

BTC/USD: Price is ranging over the long term