Forex Daily Forecast, Analysis and Prediction

During the trading session on Monday, it has been somewhat quiet in the dollar against the Mexican peso, but that's not a huge surprise considering that it was President's Day in America.

The British Pound has formed a rather intriguing candlestick for the session on Monday against the Swiss Franc, as we initially gapped lower only to turn around and rally fairly significantly.

The Euro has risen slightly against the Swiss franc during fairly uneventful trading on Monday.

The Canadian dollar has fallen pretty significantly against the Japanese yen during trading on Monday as it looks like the 50-day EMA has come into the picture to offer significant resistance.

The GBP/USD exchange rate continued its strong uptrend, reaching a high of 1.2620, its highest level since December 18. It has risen in the last five straight days as the US dollar continued falling. Its next catalyst will be key UK economic data and Federal Reserve minutes.

The British Pound has rallied just a bit during the early hours on Monday, but it's probably worth noting that the shooting star from Friday still loomed somewhat large.

USD/CAD stabilizes near 1.42. A move above 1.43 could trigger bullish momentum, while a break below may test 1.40 support.

USD/CHF bounces from 0.8950. Key resistance at 0.92, with potential to reach 0.95 if momentum continues.

Silver remains stuck at key resistance near $32.35. Traders watch support at $31 and the 50-day EMA for direction.

Gold bounces back after Friday’s decline, staying in an uptrend. Traders look for value in key pullbacks.

The EUR/USD exchange rate held steady near its highest level since January 28 ahead of the upcoming Federal Reserve minutes. It rose to a high of 1.0515 on Tuesday, up by almost 3% from its lowest level this year.

Bitcoin is consolidating with little movement. Will external factors spark the next major trend?

The BTC/USD pair remains in a tight range as many crypto investors remained in the sidelines waiting for the next catalyst. Bitcoin was trading at $95,250, down by about 12% from its highest level this year.

USD/TRY remains near record highs as Turkey’s central bank maintains a cautious monetary approach, with upside targets at 36.25 and 36.55.

EUR/USD tests 1.0515 resistance but remains bearish, with traders watching key levels and US-EU economic data for the next market move.