Forex Daily Forecast, Analysis and Prediction

The GBP/USD came under intense pressure in the overnight session as the market waited for the upcoming economic data from the UK.

The BTC/USD price retreated in the overnight session as the strong recovery took a breather.

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The NZD/USD continues to push slightly higher and resistance levels appear vulnerable as the one-month trend shows bullish momentum.

The USD/ZAR remains within the upper realms of its long-term technical charts as trading conditions remain choppy.

ETH/USD has taken further steps higher and is now trading at short-term highs as speculators have begun to grow bolder.

The US dollar declined at the end of last week's trading, which allowed gold to move to the resistance level at $1780.

The US dollar fell against most of the other major currencies at the end of last week, after economic data showed a decline in US consumer confidence in August.

The GBP/USD broke through important support at 1.3800 to reach 1.3790, and with the US dollar's decline at the end of last week's trading, it rebounded to the 1.3870 resistance and closed around there.

The EUR/USD fell to its lowest level of the year last week at 1.1706, and tested 1.1805 on Friday before closing around the 1.1796 resistance.

The CAC Index rallied significantly to kick off the trading session on Friday, breaking above the 6900 level before pulling back to form a shooting star.

The West Texas Intermediate Crude Oil market pulled back a bit during the trading session on Friday as we have reached towards the $60 level.

The US dollar fluctuated against the Canadian dollar on Friday as we continue to simply grind sideways, hanging about in the quietest time of the year.

The NASDAQ 100 rallied on Friday again as we continue to see the market go higher, walking along a significant uptrend line that we have been paying attention to for several months now.

The S&P 500 rallied a bit on Friday as we continue to see liquidity measures prop up Wall Street.