Forex Daily Forecast, Analysis and Prediction

European COVID restrictions continue to hurt the euro, and accordingly, the bearish pressure for the EUR/USD continued.

Key support levels above 0.7150 are coming into sight.

The US dollar pulled back just a bit on Monday, but as you can see, we have turned around to show signs of strength again.

The US dollar rallied a bit on Monday, piercing the ₹74.50 level, but has not been able to sustain the move.

The West Texas Intermediate Crude Oil market initially fell on Monday, but as you can see, we have turned around to show signs of life again.

The S&P 500 rallied significantly on Monday to reach all-time highs yet again.

The NASDAQ 100 was all over the place on Monday as we continue to see a lot of volatility overall.

Gold markets got absolutely hammered on Monday to reach down towards the 50-day EMA at the $1807 level.

Silver markets initially tried to rally on Monday but struggled at the $25 level.

The Bitcoin market rallied a bit on Monday but struggled with the $60,000 level.

The euro continued to slide quite a bit lower during the trading session on Monday as we have broken below the 1.1250 level.

The British pound fell again on Monday to slice back through the 1.34 level.

The GBP/USD pair made a bearish breakout after the relatively strong US existing home sales data and after Biden announced his Fed Chair pick.

The BTC/USD price remained under pressure as investors focused on demand.

The EUR/USD pair tumbled in the overnight session as investors reflected on the Jerome Powell reappointment.