Forex Daily Forecast, Analysis and Prediction

Gold markets were all over the place on Monday as we continue to see a significant amount of volatility and choppiness.

The Australian dollar rallied again on Monday, reaching towards the 0.7360 level.

The West Texas Intermediate Crude Oil market rallied again during the day on Monday, smashing through the $80 level.

The GBP/USD price retreated slightly in the overnight session as traders waited for the upcoming UK jobs numbers and as the US dollar rebounded.

The BTC/USD price broke out as interest in cryptocurrencies rebounded.

The USD/JPY is brushing aside resistance levels with ease and has long-term higher values in sight, and the past couple of trading days have seen price velocity increase.

The USD/INR has again displayed ability to incrementally climb higher and extend its bullish move; in fact, speculators may believe the Forex pair has gained additional momentum short term.

ADA/USD has produced a difficult path the past handful of days, particularly since enjoying a spike higher last week which saw it value approach the 2.378000 vicinity.

ETH/USD continues to traverse within the upper realms of its one-month charts, but it has found rather strong headwinds when it approaches resistance.

Gold futures settled slightly lower yesterday as riskier assets such as stocks rose amid easing concerns over the US debt limit and a larger-than-expected drop in US jobless claims last week.

Despite US jobs figures coming in below expectations, the USD/JPY completed the upward path and hit the resistance level of 112.25 by the end of last week.

The GBP/USD tried to rebound higher last week, but its gains did not exceed the 1.3658 resistance and it closed trading stable around 1.3617.

After the US job numbers were announced on Friday, the EUR/USD rebounded higher, reaching the resistance level of 1.1586 and closing stable around 1.1573.

Bitcoin is now trading above $55k.

The Bank of England’s signaling on rates are helping to hold up the British pound.