Forex Daily Forecast, Analysis and Prediction

Bitcoin price held steady above the key psychological level at $70,000 as volatility in the market dropped and a risk-on sentiment prevailed. The BTC/USD pair was trading at 70,800, up sharply from the year-to-date low of 60,100.

Solana has fallen 39% over the past 30 days, sliding to a two-year low of $67. The drop was accompanied by a sharp decline in futures activity, with Solana’s open interest falling by more than $3.7 billion over the same period.

The USD/MXN has returned to the lower realms it has tested on occasion since late January, this as the currency pair traverses the 17.25300 vicinity .

Bitcoin fell to a new 16-month low price, but rebounded to print a bullish V recovery before running out of steam at $71,762.

The US dollar initially broke higher during the trading session on Friday, breaking above the 17.5 level, only to turn around yet again, at the same important level it has all week.

The interest rate differential continues to be a mainstay of this pair, as we are levitating into the weekend, looking bullish overall.

The Australian dollar rallied a bit in the early hours of Friday, as the Aussie looks to rally into the weekend. The range continues to be well-defined, with the 0.79 level and the 0.81 level both offering important barriers.

Bitcoin has been horrific lately, as the markets continue to see a lot of selling pressure overall. Bitcoin is still looking for some kind of reason to move in a positive light, other than being oversold.

The Nasdaq 100 rallied a bit on Friday, as we continue to see a lot of buyers jumping into the US stock markets, and it’s likely we will continue to see upward momentum.

The $5,000 level is looming large at this point in time, as the rally on Friday has been rather impressive to say the least.

The German DAX continues to see a lot of upward pressure overall, and at this point in time, I think we are more likely than not in the midst of trying to find our bottom.

The light sweet crude oil market looks very mush like a market that is trying to figure out what to do, as the Americans could attack the Iranians over the weekend.

The US dollar has fallen against the South African Rand again on Friday, as we continue to see the carry trade play out here. That being said, I am looking to sell all rallies here.

The GBP/USD exchange rate pulled back sharply last week after the Bank of England (BoE) delivered its interest rate decision. It retreated from the year-to-date high of 1.3877 to the current 1.3612 as investors focus on the upcoming UK GDP and US jobs numbers.