Forex Daily Forecast, Analysis and Prediction

The FTSE 100 has been hanging out just above the 7000 level for about a week now, and it shows no signs of breaking out quite yet.

The S&P 500 fluctuated during the trading session on Friday in very quiet trading, which is no surprise considering that it was Memorial Day weekend.

XRP/USD is struggling near important mid-term support levels as the month of June gets ready to begin.

The market could very well break out, and that would be the main reason that people are looking at this market through a bullish prism.

The Bitcoin market fell a bit during the trading session on Friday to pierce below the 200-day EMA.

Gold markets initially fell during the trading session on Friday but then turned around to show signs of strength again.

The Australian dollar has been horrible to trade unless you are a short-term trader and are willing to take advantage of range-bound markets.

The Ethereum market initially tried to rally during the trading session on Friday but gave back the gains to show signs of exhaustion again.

The USD/ZAR has continued to demonstrate an ability to incrementally track lower and is now touching long-term support levels.

As of this writing, DOGE/USD is set to enter the month of June testing vital support levels, following record highs made only three weeks ago.

ADA/USD produced destructive trading during the month of May, depending on which side of the trend speculators were participating on.

Will June trading be as dangerous as the past four weeks?

BTC/USD has continued to face headwinds as the month of June gets ready to start, and traders are being confronted by rather steady bearish conditions.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of May 31, 2021.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 31, 2021 here.