Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair made a bearish breakout after the relatively strong US existing home sales data and after Biden announced his Fed Chair pick.

The BTC/USD price remained under pressure as investors focused on demand.

The EUR/USD pair tumbled in the overnight session as investors reflected on the Jerome Powell reappointment.

The USD/ARS continues to climb an upwards path and the Forex pair is comfortably above the 100.000 official exchange rate.

The USD/INR has maintained a rather polite price range the past handful of days, but it has provided traders an opportunity to take advantage of support and resistance levels.

The US dollar recovered with the end of last week's trading, leading to the selling of gold, which moved to the $1843 support level before closing around $1846.

Since last week, there have been sell-offs in the USD/JPY amid the return of an appetite for safe havens, including the Japanese yen.

The British pound is entering the new week with supportive momentum after it gained distinction among the top performing major currencies last week.

Europe's face-off with COVID infections will continue to hurt the Eurozone economy, which is facing other crises like in energy and global supply chains.

Break below $55k would be another bearish signal.

The West Texas Intermediate Crude Oil market initially rallied a bit on Friday but then rolled over to show signs of weakness.

The US dollar rallied on Friday to break above the top of the shooting star from Thursday.

Gold markets initially tried to rally on Friday but gave back some of the gains to dip just below the $1850 level.

The Ethereum market rallied quite significantly on Friday, as the $4000 level has offered enough support to turn things back around.

The DAX Index broke down a bit on Friday to reach down towards the €16,100 level before turning around and showing signs of life.