Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair tumbled to the lowest level in more than a year as the US dollar continued its bullish momentum.

Start the week of November 22, 2021 with our Forex forecast focusing on major currency pairs here.

The West Texas Intermediate Crude Oil market has broken down a bit on Thursday but has seen a bit of buying pressure to test the 50 day EMA.

The US dollar has rallied initially during the trading session on Thursday but looks to be running out of momentum just above the 1.26 level.

The Parisian index initially tried to rally during the trading session on Thursday but has given up gains as we approached the €7200 level.

The NASDAQ 100 has rallied significantly during the trading session on Thursday to make all-time highs yet again.

The S&P 500 has pulled back a bit on Thursday to show signs of weakness but found enough support at 4665 to turn things around.

Gold markets have fallen on Thursday but remain within the basic consolidation area that we had been in for a while.

The US dollar has rallied on Thursday but continues to struggle right around the 20.9 pesos level, as it is an area that continues offer plenty of resistance.

Bitcoin has initially tried to rally during the day on Thursday, but the $60,000 level could not hold as support.

The Euro rallied a bit during the course of the trading session on Thursday to break above the top of the hammer from the previous session.

The British pound initially dipped a little bit on Thursday, but then rose again as we continue to see an upward correction of the massive selloff.

The US Dollar Index retreated from its highest level in 16 months after hitting a major technical resistance level on the charts.

The EUR/USD's attempts to correct upwards are still very weak, as the US dollar's gains are still helped by the imminent raising of US interest rates.

New indications from the Bank of England about raising interest rates contributed to the recovery of the pound against the other major currencies.