Forex Daily Forecast, Analysis and Prediction

The US dollar initially pulled back just a bit in the early hours on Monday, only to turn around and show signs of life and rally against the Indian rupee.

The euro has shown itself to be very strong against multiple currencies around the world, especially when it comes to emerging market currencies.

The exchange in London initially tried to rally during the trading session on Monday, but it gave back gains rather quickly.

The British pound initially has shown a lot of volatility during the trading session on Monday, but quite frankly, it looks as if it is going to settle on some kind of sideways action.

The West Texas Intermediate Crude Oil Market, or the US oil market, fell significantly during the trading session, again on Monday, as it looks like we continue to see a lot of negativity out there.

The dollar-Turkish lira pair rose at the beginning of this week, following a slight increase in the Turkish lira at the end of last week.

At the end of last week's trading, the GBP/USD price tried to rebound higher, but its gains did not exceed the 1.2877 level and closed the week's trading stable around the 1.2863 level.

This week, the USD/JPY will experience significant volatility due to the policy announcements from both the US Federal Reserve and the Bank of Japan.

Traders who were convinced the incremental higher price action in the USD/MXN exchange rate was temporary when it happened a week and a half ago were rudely treated to more buying action in the currency pair last week.

The currency pair sustained its bearish momentum into Friday and remained within lower price realms going into the weekend.

During last week's trading, the bears tried hard to push the EUR/USD price below the support level of 1.0800 to further confirm the strength of the downtrend.

By the end of last week's trading, the price of gold rose to $2,390 per ounce before closing at $2,388 per ounce.

The Swiss franc has pulled back just a little bit at the end of the day against the Japanese yen but really at this point in time you have a market that looks like it's trying to stabilize.

The British pound has rallied a bit during the early hours on Friday as it looks like the 1.2850 level is going to continue to offer market memory.

The US dollar saw a little bit of trouble against the Canadian dollar during trading on Friday, as there is a lot of noise just above the crucial 1.38 level.