Forex Daily Forecast, Analysis and Prediction

WTI Crude Oil is trading within sight of long-term highs as technical and fundamental sentiments have created a dynamic environment for the commodity.

The USD/PRK continues to traverse in a bullish manner and is making resistance look quite vulnerable as speculative conditions grow.

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.