Forex Daily Forecast, Analysis and Prediction

The British pound has broken down rather significantly during the trading session on Tuesday, which is probably overdue after the knee-jerk reaction of the election.

The Australian dollar has fallen a bit during the trading session on Tuesday but has seen buyers come back to push it higher again.

The US dollar has initially tried to rally during the trading session on Tuesday, but as you can see, we have in fact pulled back yet again from the same basic area.

The EUR/USD is trying to hold on to its recent gains, that push it towards the 1.1200 resistance, its highest in four months, before settling around 1.1148,

Despite the GBP/USD correcting to the 1.3235 support in the morning trading today, Tuesday, the general trend of the pair is still up.

On the gold daily chart, price is moving in a narrow and limited range despite the announcement of important economic data and global developments

For three consecutive trading sessions, the USD/JPY is trying to breach the 109.70 resistance to complete the general trend reversal.

The Australian dollar is highly sensitive to the US/China trading situation, and as we reached the “phase 1 deal”, one would think that the Australian dollar would have shot higher in the air.

The US dollar has rallied a bit during the trading session on Monday but continues to look a little bit hesitant to try to break out against the Japanese yen.

AUDUSD: Weakly bearish below 0.6862

USDJPY: Bullish above 109.50

The Euro has rallied a bit during the trading session on Monday, reaching above the 200 day EMA initially.

The British pound has rallied rather significantly during the trading session on Monday again, but could not keep the main bulk of the gains,

The S&P 500 has rallied a bit during the trading session on Monday, hitting the projected 3200 level based upon the ascending triangle underneath.

The NASDAQ 100 has rallied significantly during the trading session on Monday, leaving the 8500 level behind.