Forex Daily Forecast, Analysis and Prediction

The pair avoided the bearish weekly closing, but it did not change the general trend, which is still bearish.

The USD/ZAR has surged higher, building on mid-term bullish momentum which already existed, and speculators need to be prepared for more volatility.

Yet further risk-off sentiment is likely to hurt Bitcoin.

Silver markets fell pretty significantly on Friday, as we had seen a lot of “risk off behavior” around the world.

The West Texas Intermediate Crude Oil market was decimated on Friday, as traders got rid of anything related to the reopening trade.

The US dollar rallied significantly on Friday in a major “risk off” move.

The FTSE 100 crashed on Friday as traders ran for cover due to the coronavirus variant news coming out of South Africa.

Gold markets initially rallied on Friday but gave back gains as the World Health Organization held an emergency meeting due to the South African COVID variant.

The S&P 500 fell hard on Friday as we received news that a new variant of coronavirus has hit South Africa.

The NASDAQ 100 fell rather hard on Friday in what were limited trading hours.

Bitcoin fell apart on Friday, as markets around the world got hammered due to the news coming out of South Africa.

The British pound fell hard on Friday but then turned around to show signs of life again.

The euro rallied significantly on Friday, breaking above the 1.13 level.

The EUR/USD pair rose slightly on Monday even as the number of Omicron variant cases keep rising and countries add travel restrictions.

The GBP/USD pair was little changed on Monday morning even as the UK confirmed that the Omicron variant had landed in the country.