Forex Daily Forecast, Analysis and Prediction

The US dollar fell against most of the other major currencies at the end of last week, after economic data showed a decline in US consumer confidence in August.

The GBP/USD broke through important support at 1.3800 to reach 1.3790, and with the US dollar's decline at the end of last week's trading, it rebounded to the 1.3870 resistance and closed around there.

The EUR/USD fell to its lowest level of the year last week at 1.1706, and tested 1.1805 on Friday before closing around the 1.1796 resistance.

The CAC Index rallied significantly to kick off the trading session on Friday, breaking above the 6900 level before pulling back to form a shooting star.

The West Texas Intermediate Crude Oil market pulled back a bit during the trading session on Friday as we have reached towards the $60 level.

The US dollar fluctuated against the Canadian dollar on Friday as we continue to simply grind sideways, hanging about in the quietest time of the year.

The NASDAQ 100 rallied on Friday again as we continue to see the market go higher, walking along a significant uptrend line that we have been paying attention to for several months now.

The S&P 500 rallied a bit on Friday as we continue to see liquidity measures prop up Wall Street.

The euro rallied significantly on Friday to reach towards the 1.18 level.

The only thing that I can make out of this chart is that we have nowhere to be.

Gold markets broke higher on Friday above the $1775 level.

The Australian dollar rallied a bit on Friday as we continue to bounce around between the 0.73 level underneath and the 0.74 level above.

Bitcoin markets turned around right away on Friday to wipe out the losses from Thursday, as cryptocurrency markets continue to get a bit overdone.

The EUR/USD pair popped on Friday after US data showed that consumers were starting to lose confidence as the Delta variant spreads.

The AUD/USD price retreated in early trading as the COVID situation and business outlook worsened.