Forex Daily Forecast, Analysis and Prediction

The Bitcoin price is in consolidation as traders focus on the next move after the currency reached an all-time high last week.

By the end of last week’s trading, the price of gold had plummeted to the support level at $1824 after several failed attempts by the bulls to break through the top of the resistance at $1864.

Although the GBP/USD pair fell to the support level of 1.3572 and stabilized around 1.3590 at the beginning of this week's trading, the outlook is still bullish.

The USD/JPY pair has been moving in a narrow range between the 103.56 support level and the 104.19 resistance level, stabilizing around the 103.82 level at the beginning of this week's trading.

The EUR/USD pair stabilized near the 1.2075 support level during Monday's trading session, after falling to that level last week in its biggest loss in over a month.

The Euro fell rather hard during the trading session on Friday, as we have broken down towards the 50 day EMA.

The British pound has pulled back a bit during the trading session on Friday to show signs of exhaustion.

The DAX Index has delivered a barrage of short-term volatility, but today’s trading may prove to actually be rather cautious.

The US dollar rallied a bit against the Indian rupee during the trading session on Friday but then gave back the gains and ended up forming a bit of an inverted hammer.

The AUD/USD is under pressure today because of the overall strong US dollar and the mixed economic data from China.

Slight bullish bias over the short-term

After reaching a high of nearly 1342.00 on the 10th of January and then experiencing a strong wave of selling, ETH/USD has incrementally traversed higher again.

Early signs of price bottoming out

The US dollar has rallied a bit during the trading session on Friday to reach towards the 50 day EMA against the Brazilian real.

The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Friday, but I think this has been needed.