Forex Daily Forecast, Analysis and Prediction

The USD/ZAR has been able to reverse off highs achieved last week and is approaching intriguing support ratios; this may get the attention of speculative buyers.

The euro fell again on Friday and even closed at the very low of the range.

The British pound initially tried to rally on Friday but fell rather significantly to wipe out the candlestick from the previous session.

The DAX Index fell on Friday to reach down just below the €15,400 level.

The S&P 500 fell a bit on Friday but found enough support at the 50-day EMA in order to cause a little bit of a bounce.

The NASDAQ 100 initially fell on Friday but turned around to show signs of life again.

Support around $45k looks crucial.

Bitcoin markets fell a bit on Friday but found enough support just above the 40,000 level to turn around and sit right at the 200 day EMA.

The silver markets initially tried to rally on Friday but gave back gains as the $22.60 level continues to be a bit too much to overcome.

Gold markets initially tried to rally on Friday but gave back early gains to form a massive shooting star.

The US dollar turned completely around on Friday to wipe out the losses from Thursday, and even the body of the shooting star from Wednesday.

The West Texas Intermediate Crude Oil market fell during a large portion of the day, but it is also worth noting that we continue to find buyers near the $70 level.

The GBP/USD pair declined on Monday morning as the number of COVID-19 cases in the UK continued.

The EUR/USD pair continued declining on Monday as investors focused on last week’s decisions by the European Central Bank (ECB) and the Federal Reserve.

The AUD/USD retreated in the morning session on Monday as investors reflected on the recent interest rate decisions by the Federal Reserve and the Reserve Bank of Australia (RBA).