Forex Daily Forecast, Analysis and Prediction

Start the week of March 1, 2021 with our Forex forecast focusing on major currency pairs here.

The Euro rallied a bit during the trading session to slice above the 1.22 level, but then turned around to show signs of weakness.

The US dollar initially dipped below the 1.25 CAD level during the trading session on Thursday as oil spiked yet again.

The NASDAQ 100 has broken down significantly during the course of the trading session on Thursday to slice through the 13,000 level.

The S&P 500 has broken down significantly during the trading session on Thursday to crash into the uptrend line and of course the 50 day EMA.

The FTSE 100 continues to see a lot of choppiness going back and forth as we have been trying to decide what to do about the 6600 level.

West Texas Intermediate Crude Oil markets went back and forth on Thursday to show a little bit of exhaustion as the market may have finally reached the limit of buying pressure.

Gold markets got absently hammered on Thursday, reaching down towards the $1765 level.

The Australian dollar initially tried to rally on Thursday to touch the 0.80 level, which of course is a large, round, psychologically significant figure.

The Bitcoin market initially tried to rally again during the trading session on Thursday but continue to see selling pressure just above the $50,000 level.

The British pound has pulled back significantly during the trading session on Thursday as the shooting star from the previous session suggested it could.

USDT/USD has incrementally traded higher as a settlement has been reached between New York and Tether.

Gold futures settled lower yesterday, reaching the support level of $1784 before settling around the $1808 level at the beginning of trading on Thursday.

Yesterday's trading session was the best daily performance for the GBP/USD pair in nearly a month-and-a-half.

Risk appetite in global markets has weakened the Japanese yen as a safe haven currency.