Forex Daily Forecast, Analysis and Prediction

Last week's trading was important for the bulls to gain more control over the general trend of the USD/JPY currency pair.

The price of gold settled above the level of 1700 dollars at the end of trading last exciting week.

The GBP/USD fell down to the 1.1498 support level, its lowest since the year 2020.

Amid the continuation of the downward trend of the EUR/USD pair, it will react this week to the announcement of the updated monetary policy decisions of the European Central Bank.

The EUR/GBP is near the 0.86340 mark as of this writing, this value is clearly within sight of important resistance which remains technically intriguing.

The West Texas Intermediate Crude Oil market has initially tried to rally on Friday, as everything went “risk on” for a short amount of time.

The S&P 500 has gapped higher to kick off the trading session on Friday but turned around to sell off quite drastically.

The NASDAQ 100 formed a nasty candlestick during the trading session on Friday, as we initially gapped higher.

The Ethereum market has done very little during the training session on Friday, as we continue to see the $1600 level offer quite a bit of resistance.

The BTC/USD continues to struggle to gain any real traction.

As of this writing the USD/CHF is near the 0.98300 mark which is a relatively high value, but slightly under highs demonstrated late last week when 0.98600 was flirted with on Thursday and Friday.

The AUD/USD price moved sideways on Monday morning as focus shifted to the upcoming interest rate decision by the Reserve Bank of Australia (RBA).

The EUR/USD price continued falling after Russia announced an indefinite closure of the important Nord Stream 1 pipeline.

The BTC/USD price has been in a strong bearish trend in the past few weeks as investors continued worrying about the Federal Reserve.

We have very strong bearish momentum, with lots of bearish concerns about the future of the British economy and an energy crisis in Europe.