Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 traded its e-mini contract electronically during the trading session on Monday, but the underlying index itself was closed.

The Bitcoin markets fluctuated during the trading session on Monday to kick off the week on a slightly positive tone in the end.

The FTSE 100 has taken off during the open on Monday, gapping higher and then slicing through the 6600 level like it was not even there.

The DAX index gapped higher to kick off the trading session on Monday, which has been very bullish for stocks in general.

The gold markets continue to look very quiet, but that is not a huge surprise considering that the Americans were away for President's Day.

The Australian dollar rallied a bit during the trading session again on Monday to kick off the week on a positive note.

The GBP/USD price rose to the highest level in more than 34 weeks mostly because of the relatively weak US dollar and the ongoing vaccination efforts in the UK.

The BTC/USD is on the verge of a bullish breakout to $50,000.

The GBP/JPY has seen another swift climb in trading today as important long-term resistance levels have been proven vulnerable.

The USD/BRL has remained within a tight trading band the past five days, but technical traders may believe that short-term indicators may be setting the stage for a small bearish trend to develop.

The USD/ZAR has continued to display a rather swift bearish trend as it has broken free from January’s bullish cycle which caused difficult days for speculators who insisted on looking for more downside action.

The USD/INR broken through critical long-term support this morning and has seen its bearish trend grow in strength.

Despite the weakness of the US dollar, gold declined at the end of last week’s trading, reaching the $1810 level, after gains in the same week pushed it to the $1855 level.

The bullish performance of the GBP/USD continued during last week's trading as the pair jumped to the 1.3866 resistance level, its highest in three years, before closing the week’s trading around 1.3853.

The USD/JPY experienced some profit-taking at the beginning of last week's trading that pushed it towards the support level of 104.40 before recovering and reaching 105.18, closing trading around 104.90.