Forex Daily Forecast, Analysis and Prediction

The DAX Index broke above the €16,000 level on Monday in what looks to be an attempt to continue breaking much higher.

The S&P 500 pulled back initially on Monday, only to turn around and show signs of life again.

The NASDAQ 100 had a strong move on Monday after initially dipping ever so slightly negative.

The euro tried slightly at the open to rally on Monday, but as you can see, we have fallen rather hard since then to crash into the previous support level.

The gold market got absolutely hammered on Monday to kick off the trading year.

The Australian dollar got hit rather hard during the trading session on Monday, as we continue to struggle near the 0.7275 level.

Bitcoin initially tried to rally on Monday, but as you can see, we continue to see resistance just above.

The British pound spent most of the day on Monday falling, as the area around the 1.35 level continues to be important.

The big round number at 115.00 has finally been fully overcome.

The GBP/USD pair pulled back on the back of the overall strong US dollar.

The EUR/USD pair declined sharply as the US Dollar Index jumped on the first trading day of the year.

The BTC/USD pair remained under pressure in the evening session even as the Bitcoin hashrate surged to an all-time high.

The price of an ounce of gold ended the 2021 trading year, stable above the psychological resistance level of 1800 dollars, and down to the resistance level of 1829 dollars an ounce.

Britain’s progress over the rest of the global economies in the vaccination pace against the pandemic has always been a good reason for the value of the pound to rise strongly against the rest of the other major currencies.

On different days in January 2021, the price of the euro currency pair against the dollar, (EUR/USD) jumped to the vicinity of the resistance 1.2350, its highest since April of the year 2018.