Forex Daily Forecast, Analysis and Prediction

The Bitcoin market initially tried to rally on Monday to show signs of strength, but then gave back the gains to finish relatively unchanged.

The NASDAQ 100 has initially pulled back on Monday but has seen enough buying pressure to turn things around and show signs of life.

The S&P 500 went back and forth on Monday to show signs of hesitancy, but perhaps more importantly, it showed signs of support at the previous downtrend line of the bullish flag.

The gold markets have fallen a bit on Monday reaching down towards the $1860 level.

The Australian dollar initially tried to rally during on Monday but seems to be struggling near the 50-day EMA.

The West Texas Intermediate Crude Oil market initially tried to rally on Monday but then gave back gains to drop towards the $79.85 level before stabilizing a bit.

The US dollar initially rose ever so slightly against the Canadian dollar before falling towards the 1.2520 level.

The New Zealand dollar initially rallied a bit on Monday in a very positive sign as we had bounced from the psychologically and structurally important 0.70 level on Friday.

The EUR/USD pair crashed to the lowest level since July 2020 ahead of the latest EU GDP data and US retail sales numbers.

The GBP/USD pair was little changed in early trading as investors waited for the latest UK jobs and inflation data.

The BTC/USD is still hovering near its all-time high as investors reacted to the weekend’s taproot upgrade.

The Aussie weakened slightly from the dovish RBA minutes.

The USD/TRY has broken through the 10.00000 ratio and its path higher may not be complete quite yet.

The USD/ZAR has been able to sustain its bounce higher, which was achieved last week when support levels in the Forex pair proved durable.

Gold futures continued to rise, benefiting from a combination of a weak US dollar and rising inflation fears.