Forex Daily Forecast, Analysis and Prediction

Since the beginning of this week’s trading, gold prices have watched with caution the arrival of a wave of important economic data and events affecting sentiments of global financial markets and investors.

As is the case, the Pound ignored the results of the economic data and focuses more on the future of the general and crucial elections, which will be held in the United Kingdom tomorrow, Thursday, and will determine the fate of Brexit.

The price of the EUR/USD will receive the monetary policy decisions of the US Federal Reserve Bank during the trading today, a day before the European Central Bank announces its policy decisions in the first official meeting of the bank under the leadership of Christine Lagarde

AUDUSD: Support at 0.6800 holds firmly

USDJPY: Ranging between 108.25 and 109.00

Bitcoin: Range is holding

Bitcoin is pressuring the cryptocurrency market to the downside and may peak below the $7,000 level yet again.

The US dollar gained a bit during the trading session on Tuesday, breaking the top of a fat hammer that formed on Monday.

The S&P 500 went back and forth during the trading session on Tuesday as we await the trade tariffs this Sunday.

The NASDAQ 100 gapped lower to kick off the trading session, although just barely.

The Euro rallied significantly during the trading session on Tuesday, reaching towards the 1.11 handle.

The British pound should continue to go higher given enough time, as we are broken above the top of the shooting star from the previous session on Tuesday.

The Australian dollar has gone back and forth during the trading session on Tuesday as we continue to see a serious lack of clarity when it comes to the trade situation and of course we are facing the extension of trade tariffs on the Chinese starting this Sunday.

Last Friday’s strong NFP report had a limited short-term impact, as the US Dollar is once again under pressure.

The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday, but then turned around to rally and slam into the $60 level.