Forex Daily Forecast, Analysis and Prediction

The British pound started the new week trading higher against the US dollar, although a crowded US data calendar and the UK elections could cause some volatility.

According to recent trading, we have seen the EUR/USD price recover with the emergence of anti-nationalist bloc companies, inflation in the eurozone, and US jobs also in focus.

As the start of a key trading week, the Japanese yen traded at 161 yen to the dollar, slightly below its 38-year low of 161.72 yen set last week.

At the start of trading this week, gold prices jumped towards the $2,338 resistance level before stabilizing around $2,332 per ounce at the time of writing this analysis.

The US dollar has rallied pretty significantly during the hours in the early part of Monday, but when you look at this chart it seems very noisy to say the least as we're hanging around the 18.40 level.

The US dollar has exploded to the upside during the trading session on Monday to slam itself above the shooting star on Friday.

The New Zealand dollar initially tried to rally during the course of the trading session on Monday to break above the 200 day EMA as well as the 50 day EMA but has since fallen rather hard.

The price range of the USD/SGD trading pair has been rather strong the past week.

The British pound has rallied pretty significantly against the Japanese yen during the Monday session as we continue to see upward trajectory play itself out.

The USD/RUB is now challenging higher marks that were seen last Wednesday.

I see that the EUR/GBP pair is starting to rise again.

Silver rallied a bit during the trading session on Monday but has also given back some of the gains to show signs of hesitation.

I see that the DAX is doing everything it can to break out to the upside.

Gold looks like it is trying to build some type of base for a move higher.

I have seen quite a bit of sideways action yet again,.