Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude oil market initially fell during the trading session on Monday as traders came back to work, but then turned around to show signs of support, forming a hammer.

The DAX Index pulled back a bit during the trading session on Monday as traders came back to work.

The British pound is seen firmer.

The EUR/USD price is down for the fourth straight day in a row as the strong dollar theme continues, in the longest losing streak for the pair.

Bitcoin price is attempting to bounce back after falling by more than 30% in the past few days.

The US dollar's strength at the end of last week’s trading pushed gold to the $1828 support level, its lowest level in three weeks, and the worst daily performance of gold since November 9, 2020.

At the beginning of this week's trading, the EUR/USD pair retreated to the support level of 1.2170 as of this writing.

After being sold off for four trading sessions in a row, the GBP/USD pair reached the support level of 1.3532 after its recent gains had pushed it towards the resistance level at 1.3703.

The USD/JPY pair tried to rebound upward during the last trading session, but the bounce's gains did not exceed the 104.10 resistance level, and the pair stabilized near it.

The USD/MXN has demonstrated an ability to puncture resistance levels the past few days of trading.

The USD/PKR is a speculative delight for traders who like the potential of volatility.

The past week of trading in the USD/INR has seen a clear bullish trend develop, and traders who have been pursuing lower values may have to reevaluate their thinking short term.

Speculators who have been indulging in the long-term bearish trend of the USD/SGD may be hearing warning bells ringing.

The US dollar rallied during the trading session on Friday, reaching towards the 15.50 rand level.

The euro got hammered during the trading session again on Friday, just as it did on Thursday.