Forex Daily Forecast, Analysis and Prediction

The DAX Index fluctuated during the trading session on Friday as it headed into the weekend.

The West Texas Intermediate Crude Oil market continued to show signs of strength during the trading session on Friday as it tried to break towards the $75 level.

The US dollar bounced a bit during the trading session on Friday as we reached towards the 50-day EMA and the previous trendline that had been so important.

The S&P 500 has been choppy during the trading session on Friday as we try to figure out where to go next.

The NASDAQ 100 initially sold off during the trading session on Friday but recovered again at the uptrend line as we continue to see plenty of buyers jump into this market.

The euro initially tried to rally during the trading session on Friday but gave back early gains to show signs of weakness again.

The British pound initially tried to rally during the trading session on Friday but continues to struggle at the 1.40 handle.

The gold markets got crushed during the Friday session as we have taken back almost all of the gains from Thursday.

The Australian dollar fell a bit during the trading session on Friday as we continue to hear a lot of noise in this general vicinity.

The Bitcoin markets fell a bit during the trading session on Friday, partially helped by the Deribit $21 billion worth of options expiring.

The AUD/USD pair retreated on Monday morning as the number of COVID cases in Australia continued rising.

The EUR/USD price retreated slightly as the COVID-19 situation in the US continued to worsen.

Today’s pivotal point is likely at $40,625.

The price is more bullish above 1.4010.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 2, 2021.