Forex Daily Forecast, Analysis and Prediction

USDCAD remains trapped in a month-long price range

USDCHF supported above 1.0070 as risk appetite recovers

GBPUSD: Breaking to new lows below 1.2700

EURUSD: Still bearish below resistance at 1.1181

The Euro went back and forth rather wildly during the trading session on Tuesday as investors try to figure out what they’re going to do next.

Bitcoin markets did very little during the day on Tuesday, and I think that’s a good thing.

The S&P 500 rallied a bit during the trading session on Tuesday, as we continue to dance around the 50 day EMA.

The WTI Crude Oil market went back and forth during trading on Tuesday, as we continue to see a lot of resistance near the $63.66 level.

The US dollar rallied against the Japanese yen during the trading session on Tuesday as we had seen some bullish action in the stock markets in America.

Gold markets fell during trading on Tuesday, testing the $1270 level yet again.

For the sixth day in a row, gold prices moved downward to the support level of $1274 an ounce, with stronger gains for the US dollar, which is second only to the Japanese yen in gaining safe haven gains as the US-China trade war recently intensified.

The bearish momentum continues to dominate the performance of the EUR/USD as the single European currency continues to lose confidence amid the slowing of the Eurozone economy led by Germany as global trade wars continue.

The dollar and Japanese yen have been the most prominent as safe havens recently amid global trade tensions.

During the transactions of Tuesday, May 21, 2019, the markets will focus on the announcements from the economic agenda

NZDUSD analysis: approaching psychological level at 0.6500