Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair continued its strong recovery.

Bitcoin and other altcoins remained under pressure this week as the recent bullish momentum faded.

The AUD/USD went vertical in the overnight session after Jerome Powell delivered an important speech at Stanford University.

Hopes for an early US interest rate cut by the Federal Reserve were dashed again at the start of this week's trading after more upbeat data from the US.

Finally, hopes of the GBP/USD currency pair moving towards the psychological resistance level of 1.3000 in the near term have evaporated.

Ahead of the release of eurozone inflation figures and then new comments from US Federal Reserve Governor Jerome Powell, the EUR/USD pair continued its strong downward trend.

Ahead of key economic events, gold prices rose to as high as $2288 an ounce, setting new all-time highs, as geopolitical tensions and rising demand from funds and central banks offset a strong dollar and the possibility of higher US interest rates for longer.

The Euro initially pulled banks just a bit but at this point in time has turned around the show signs of life during the Tuesday session.

The German index initially tried to rally a bit during the trading session on Tuesday, but then collapsed.

Bitcoin plunged during the early hours on Tuesday as we continue to see a lot of noisy behavior in this market.

The USD/CAD is actually trading within a lower price range than the one it occupied last week.

The NZD/USD has not been able to escape the nervousness being created within financial institutions

We continue to see the 11 NOK level offer resistance as the market has pulled back from there.

Silver has shown itself to be positive yet again during the trading session on Tuesday.

During the Tuesday session, we have seen the New Zealand dollar rally a bit during the day, as the ¥90 level continues to be important.