Forex Daily Forecast, Analysis and Prediction

Gold markets rallied a bit on Monday but gave up some of the gains as we continue to see a lot of noisy behavior just above the $1920 level.

The West Texas Intermediate Crude Oil market rallied right away at the open on Monday to go looking towards the $109 level.

Ethereum pulled back just a bit on Monday to retest the downtrend line that I have drawn from the descending triangle.

Litecoin rallied a bit against the US dollar but pulled back at the 50-day EMA to form a shooting star on Monday.

The US dollar fell again on Monday against the Brazilian real, breaking down below the 5.00 BRL level.

The US dollar fell significantly on Monday to kick off the week, as the Mexican peso continues to show signs of strength in general.

Bitcoin pulled back from the 50-day EMA indicator on Monday, as we have seen a lot of volatility in this market.

The euro fell a bit on Monday to show signs of weakness right away.

The Australian dollar rallied on Monday to reach the 0.74 level yet again.

The GBP/USD pair held steady in the overnight session as investors refocused on the upcoming UK inflation data scheduled for Wednesday.

The EUR/USD pair remained in a tight range in the overnight session even as Jerome Powell reiterated his hawkish stance.

The BTC/USD has been in a tight range in the past few days as concerns about the Federal Reserve remain.

Before the end of last week’s trading, the price of EUR/USD succeeded in achieving cautious gains that brought it to the resistance level of 1.1137.

By the end of last week's trading, gold futures contracts declined, leading to a noticeable weekly loss for the precious metal.

The Japanese yen collapsed a lot against the rest of the major currencies and against the US dollar, with losses that pushed the price of the US dollar pair against the Japanese yen USD/JPY