Forex Daily Forecast, Analysis and Prediction

The US dollar fell hard on Monday against the Canadian dollar as crude oil continues to attract a lot of attention.

The Avalanche market rallied a bit on Monday, but as you can see, we have been selling off quite drastically.

Cardano rallied a bit on Monday, stabilizing right around the $0.50 level.

We did try to rally a bit but it is worth noting that we stalled right at the 50-day EMA.

The British pound continued to grind to the upside on Monday, although it should be noted that it was a very quiet session as Americans were away for Memorial Day.

The German DAX Index rallied a bit on Monday, reaching the €14,600 level in the cash market.

Bitcoin rallied a bit on Monday, as it looks like we are trying to build enough support for a base.

Gold markets were quiet on Monday, which should not be a huge surprise considering that it was Memorial Day in the United States, and futures trading was somewhat limited.

The euro rallied again on Monday, but we are still significantly below a major resistance barrier.

The EUR/USD upward momentum continued as investors continued to brace for higher interest rates by the European Central Bank (ECB).

The GBP/USD pair continued its bullish trend as it rose to the highest point since April 26th.

The BTC/USD pair rose to an important resistance level as cryptocurrencies and stock prices turned green.

With the beginning of this important week’s trading, the price of the EUR/USD currency pair continues to maintain the recent rebound gains that pushed it towards the 1.0765 resistance level.

Gold futures enjoyed modest weekly gains, despite slowing US inflation gains and Fed optimism.

For five trading sessions in a row, the losses of the USD/JPY currency pair stopped at the support level 126.35 and settled around the 127.20 level at the time of writing the analysis.