Forex Daily Forecast, Analysis and Prediction

The bears completed the last downside path of the USD/JPY currency pair, as they succeeded in breaching the important support level 108.88.

Gold prices returned to stability around the $1808 support level for an ounce, in waiting mode until investors interact this week with the announcement of monetary policy decisions by the Bank of England.

The performance of the pound sterling against the rest of the other major currencies will depend first on the reaction of the monetary policy decisions of the Bank of England, which will be tomorrow.

The USD/CAD created short-term highs yesterday, but a reversal lower this morning highlights the rather choppy conditions the Forex pair has demonstrated the past week.

The USD/MXN has seen a tight range displayed the past week as its price band has gyrated rather methodically as support and resistance levels have remained stable.

ADA/USD has turned lower after testing short-term highs in early trading yesterday, support levels are clearly within sight and traders should expect more volatility.

ETH/USD has turned in a volatile performance after hitting short-term highs a few days ago, and then being confronted by headwinds which serve as bearish reminders.

The euro initially tried to rally during the trading session on Tuesday but gave back the gains again as we approached the 1.19 handle.

The British pound initially rallied during the session on Tuesday but then turned around to fail as we have seen this market chop back and forth.

The question now is whether or not we can recover after this most recent selloff.

The S&P 500 pulled back ever so slightly during the trading session on Tuesday but then turned around to show signs of resilience.

The NASDAQ 100 fell quite a bit to kick off the trading session on Tuesday to reach down towards the uptrend line.

Selloff from $40k area slowing in momentum.

The Indian rupee gained slightly against the US dollar as the Delta variant in India seems to be slowing down.

The FTSE 100 rallied significantly during the trading session on Tuesday, but now that we are above the 7000 level, it looks as if we are going to try to get towards the top of the same ascending triangle.