Forex Daily Forecast, Analysis and Prediction

Gold markets have broken down below the recent support at the $1850 level, an area that has been relatively reliable as of late.

Silver markets broke down slightly during the trading session on Monday, as the US dollar got a bump higher.

The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Monday as we returned to work.

The euro fluctuated during the course of the trading session on Monday as we continue to hang on to the latest headlines involving Brexit, which has a certain amount of influence on the euro as well as the British pound.

The British pound rallied right off the bat on Monday, reaching towards the 1.34 handle.

The EUR/USD had cautious performance during last week's trading as gains reached the 1.1894 resistance before closing, stabilizing around 1.1858.

Despite the failure of the European Union and Britain to resolve the contention points between them, the GBP/USD pair has strongly benefited from investors' risk appetite and abandonment of the dollar as a safe haven amid the announcement of coronavirus vaccines.

Gold prices rose to $1880 an ounce by the end of last week's trading, despite the uncertainty about the rapid financial stimulus in the United States amid rising COVID-19 infections and despite the stronger dollar.

It seems from the USD/JPY's last three trading sessions on the daily chart that bearish exhaustion is taking the pair to stronger descending levels.

Double top at 0.7340 in view.

Speculators who enjoy a solid rocket ride filled with danger are encouraged to wager on BTC/USD short term.

Distributive topping is a potential danger to bulls.

The USD/BRL has produced choppy conditions during the past few days of trading.

The USD/ZAR may scare short-term speculators.

Before going into the weekend, the USD/SGD managed to sustain its bearish trend without suffering any snap reversals higher before Forex markets closed.