Forex Daily Forecast, Analysis and Prediction

The price of gold reached $1765 twice last week after falling to the support level of $1722, the lowest price in nearly two months.

The USD/JPY has been strongly bullish, hovering above the 110.00 psychological resistance last week amid increased risk appetite for the US dollar.

The GBP/USD has been trying to compensate for its sharp losses that pushed it towards the 1.3411 support level, a 2021 low.

It was a sharp bearish trading week for the EUR/USD, which collapsed to the 1.1563 support level, a 14-month low, and closed trading around the 1.1592 level.

The USD/MXN continues to embrace a higher price range, even after reversing slightly lower after hitting mid-term highs before going into the weekend.

The USD/ZAR has delivered traders a rather impressive range the past handful of days reminding all speculators that volatility can deliver joy and pain.

Resistance is holding so far below $50k.

The DAX Index initially plunged on Friday after gapping lower.

The Parisian CAC Index fell a bit on Friday to test a minor uptrend line, only to turn around and rally quite significantly.

The West Texas Intermediate Crude Oil market initially pulled back on Friday but found support just below the $75 level to turn things back around.

The S&P 500 initially fell on Friday but then turned around to show signs of life again.

The NASDAQ 100 initially broke down on Friday before turning around to form a bit of a hammer.

Gold markets went back and forth on Friday, showing signs of exhaustion after the massive bullish candlestick that we formed on Thursday.

The Australian dollar initially fell on Friday but then turned around to show signs of strength again in what has been a somewhat repeating pattern.

Bitcoin rallied significantly on Friday to show extreme strength again, as we find ourselves testing the $48,000 level.