Forex Daily Forecast, Analysis and Prediction

The euro did very little during the trading session on Monday, as we essentially are simply sitting at the 50-day EMA and trying to find some direction.

The British pound pulled back a bit during the trading session on Monday, only to recapture the 1.41 handle.

Attractive support levels above $70 and at $69.

Resistance overhead runs up to 1.2150.

The GBP/USD pair was in a tight range during the Asian session as traders waited for the key UK employment and US retail sales numbers.

The BTC/USD rose to a key resistance level after some positive comments by Elon Musk and billionaire Paul Tudor Jones.

The EUR/USD pair’s gains are subject to profit-taking operations, especially this week with the markets anticipating the monetary policy decisions of the US Central Bank.

The recovery of the US dollar contributed to the profit-taking sale of the price of gold, reaching the support level of 1870 dollars an ounce.

Last week, the positive performance of the USD/JPY currency pair and the rebound gains reached the resistance level of 109.85 before closing trading stable around the 109.68 level.

Profit taking selling operations contributed to the decline in the price of the GBP/USD currency pair.

The USD/CAD has moved higher since late Friday and is touching one-month highs as nervous trading hovers over global Forex.

The USD/ZAR has experienced a reversal higher as nervous sentiment shadows the global Forex markets.

The USD/INR has become rather choppy and traded higher as Forex has become stormy while the US Federal Reserve’s shadow grows.

After testing important support this weekend, ETH/USD has again managed to produce a slight move higher and bearish speculators should be intrigued.

The price has room to rise beyond $42k without hitting key resistance.