Forex Daily Forecast, Analysis and Prediction

During last week’s trading, the gold price experienced strong selling that pushed it towards the support level of $1732 an ounce, its lowest in nine months, and tried to recover slightly to $1752 on Friday.

The bears to push the price of the GBP/USD pair to collapse towards the 1.1875 level.

The euro narrowly avoided a move towards the psychologically important level of parity against the dollar in the last session of trading last week.

For two consecutive weeks, the EUR/JPY currency pair was subjected to selling due to concern about the future recession of the Eurozone economy.

The price is looking likely to consolidate over the near term.

The British pound initially slid against the US dollar Friday but has recovered quite nicely as you can see on the chart.

The US dollar rallied again during the Friday session as it looks like the 16.88 level is now in the rearview mirror.

The Brazilian real strengthened a bit against the US dollar as the dollar fell to the 5.27 level during the Friday session.

The S&P 500 recovered even further on Friday, as the jobs number came and went.

The euro initially plunged on Friday but then turned around to show signs of life again as we ended up forming a hammer.

Bitcoin rallied during most of the trading session on Friday but gave back gains as we continue to see a bit of hesitation.

The Canadian dollar initially fell quite drastically against the Japanese yen as former Japanese Prime Minister Shinzo Abe was assassinated.

The German DAX Index initially dipped a bit in the futures market on Friday, but then turned around to show signs of strength.

Gold markets initially shot higher on Friday but gave up gains again.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, after initially falling in reaction to the jobs number.