Forex Daily Forecast, Analysis and Prediction

The NZD/USD has continued to show a strong amount of resilience and remains within sight of important higher values.

The continued weakness of the US dollar has caused strong and sharp gains for the price of gold, which recently resulted in a break through the psychological resistance level of $1900.

The GBP/USD pair achieved strong gains that pushed it during last week’s trading to the 1.4220 resistance level, nearly its highest since the beginning of 2021.

Investors abandoned the Japanese yen recently due a renewed outbreak of COVID-19 in Japan and the country’s slow pace of vaccinations, which impede the economic recovery of Japan.

This week is an important one for the Forex industry, beginning with the Memorial Day holiday weekend and ending with the US jobs report on Friday.

Gold remains a buy as it hits new multi-month high prices.

If $30k breaks down, the price could reach $20k very quickly.

ADA/USD continues to produce a rather choppy trend for speculators as it manages to hold onto values within the midst of a mid-term technical perspective.

DOGE/USD has remained under pressure and shown little ability to produce a significant reversal higher as bearish momentum builds.

Only the foolhardy and the gamblers are putting a lot of money to work, as you have seen of the last couple of days.

The euro initially fell during the Friday session but turned around to show signs of strength again, as we have reclaimed the 1.22 handle.

The British pound pulled back during the trading session, but turned around to reach towards the 1.42 handle yet again.

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.