Forex Daily Forecast, Analysis and Prediction

Start the week of November 15, 2021 with our Forex forecast focusing on major currency pairs here.

The gold markets have rallied significantly on Thursday as we continue to see gold markets race higher due to the idea of fighting inflation.

The US dollar has initially tried to rally during the course of the trading session on Thursday before pulling back midday.

The Euro has fallen again during the trading session on Thursday, as the European Central Bank ponders whether or not to do anything.

The British pound has broken below the 1.34 handle, an area that was significant support previously.

The Bitcoin market has rallied just a bit during the course of the trading session on Thursday to show signs of stability, right around the $65,000 level.

The Ethereum market has rallied significantly during the trading session on Thursday, as the $4500 level has been important over the last couple of weeks.

The West Texas Intermediate Crude Oil market has pulled back a bit but continues to see the previous downtrend line as a potential support level.

The NASDAQ 100 has bounced ever so slightly during the trading session on Thursday as the 16,000 level looks to be somewhat supportive.

The S&P 500 went back and forth during the trading session on Thursday, as we have stabilized near the 4650 handle.

The FTSE 100 has rallied significantly on Thursday, as the GDP numbers in the United Kingdom have come out lighter than anticipated.

For the second day in a row, the USD/JPY is trying to compensate for its recent sharp losses, which pushed it towards the 112.72 support level, its lowest in a month.

In its best daily performance in more than a month, the price of gold moved to the resistance level of $1868, a 5-month high, before settling around $1852 as of this writing.

Yesterday’s trading session was one of several catastrophic sessions for the GBP/USD since the Bank of England's announcement last week.

US inflation recorded a sharp jump that may force the US Federal Reserve to move faster than the markets expected, and the US dollar returned to steal more gains against the rest of the other major currencies.