Forex Daily Forecast, Analysis and Prediction

This is a market that looks as if it is ready to go higher, as the Federal Reserve will do everything it can to keep the market afloat.

The 0.7500 area is the level to watch today.

The price must break below 1.1850 for bearish momentum to continue.

By breaking through the $1.50 level, Cardano has shown a real proclivity to continue falling, especially now that we are finally closing underneath the $1.40 level.

The market has seen a complete turnaround and perhaps a little bit of “walking back the narrative” by the Federal Reserve, as the US dollar has calmed down.

The gold market rallied a bit during the trading session on Monday to reach towards the $1785 level.

The Australian dollar rallied a bit during the trading session on Monday to reach towards the 200-day EMA.

Bitcoin initially tried to rally during the trading session on Monday but found pressure at the 200-day EMA to turn things around.

The GBP/USD staged a strong recovery on Monday as Forex traders refocused on the upcoming Bank of England (BoE) interest rate decision.

The BTC/USD declined sharply on Monday as China intensified its crackdown on cryptocurrencies.

The US Central Bank's announcement this week brought the EUR/USD currency pair a sharp downward momentum that caused the currency pair's worst weekly performance since March 2020.

Amid a trend for a bearish weekly closing, the price of the GBP/USD currency pair moved towards the 1.3855 support level.

For the second day in a row, the price of the USD/JPY currency pair is exposed to profit-taking operations that pushed it towards the 109.96 support level

Gold futures continued their sharp losses as global financial markets continued to interact with the US Federal Reserve raising expectations of an increase in interest rates.

In 2021, the crypto market is seeing drastically higher demand for alternative digital assets, one reason being the boom in the decentralized finance (DeFi) sector.