Forex Daily Forecast, Analysis and Prediction

Gold continues its upward momentum, with strong support at $2,700 and potential for a breakout above $2,800, driven by global uncertainty and a softer US dollar.

The Euro surged following Trump’s call for rate cuts, but resistance at 1.06 looms large, with traders remaining cautious amid broader bearish trends.

The FTSE 100 has pulled back to the key 8500 level, with strong support extending to 8400, as traders assess the market's bullish outlook amid recent gains.

Ethereum continues to consolidate around the 50-day EMA, with strong support below and potential upside driven by broader crypto market trends and regulatory developments.

The Australian dollar has rallied above 0.57, but strong resistance at 0.5850 and ongoing concerns about China's economy suggest caution for further upside.

Despite a sharp decline, the USD/NOK pair remains in an overall uptrend, with traders viewing the pullback as a potential buying opportunity amid market volatility.

The New Zealand dollar has rallied to the 50-day EMA, facing strong resistance at 0.6350, with traders anticipating US dollar strength due to economic concerns in Asia.

The AUD/USD pair is climbing amid a weaker US dollar and rising commodity prices, with investors focusing on the upcoming Fed rate decision and Australia’s CPI data.

The GBP/USD pair is climbing as strong UK economic data and a weaker US dollar support bullish momentum, with traders eyeing the upcoming Fed rate decision.

The EUR/USD pair is gaining momentum ahead of the Fed and ECB rate decisions, driven by a weakening US dollar and improving Eurozone economic data.

The GBP/USD generated some buying power this past week, after touching a low of nearly 1.21770 on Monday the currency pair began to incrementally climb higher.

EUR/USD targets 1.05, USD/CAD dips but remains strong, and NASDAQ pushes higher. Focus on key levels like ¥155 for USD/JPY and €21,000 for DAX for potential trade opportunities.

Coffee Arabica went into this weekend near 347.75 USD, prior to the close the price of the commodity traversed record highs and showed an ability to climb over the 350.00 level.

WTI Crude Oil saw its price turn lower last week, this as President Trump was sworn into office and frigid weather hit the U.S, showing speculators likely knew upside momentum had run out of power.

The US dollar continues to go back and forth against the rupee near the 86.60 level as the market consolidates after a huge run higher.