Forex Daily Forecast, Analysis and Prediction

The USD/ZAR remains within sight of its upper price range, but has displayed choppy trading conditions the past few days.

Today’s pivotal point is likely to be 1.1555.

Bitcoin broke higher on Monday again, reaching towards the $57,500 area.

Ethereum initially dipped on Monday to drop below the $3500 level, but then turned around to show signs of life as we ended up with a hammer candlestick.

The DAX gapped lower to kick off the Monday session, only to go back and forth to show signs of confusion.

The NASDAQ 100 fluctuated on Monday as the previous support line continues to make quite a bit of noise.

The S&P 500 rallied a bit on Monday but then pulled back as we continue to see a lot of volatility.

The euro tried to rally on Monday, but much like many of the other currencies against the greenback, we saw a bit of a pullback.

The British pound initially tried to rally on Monday but gave back gains as the market shows hesitancy to go higher.

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.