Forex Daily Forecast, Analysis and Prediction

The USD/BRL is traversing near short- and mid-term highs which speculators may find enticing for wagers within the Forex pair.

Speculators in the USD/ZAR have been delivered a strong dose of volatility the past handful of days as reversals higher produced fireworks.

The USD/INR continues to incrementally produce short-term bearish momentum and traversed to a low of nearly 74.0300 before the weekend.

ETH/USD screamed to short-term highs in early trading yesterday as a weekend rally became pronounced.

Friday saw the worst trading session for gold in nearly two months, as the price fell from the $1805 resistance to the $1759 support, before closing at $1764.

The USD/JPY has been recovering strongly, most recently reaching the 110.35 resistance level.

The strength of the US dollar from the latest US job numbers was offset by the announcement of a decline in British infections.

The EUR/USD fell to the 1.1755 support level on Friday, its lowest in nearly three weeks, and closed the week’s trading around the 1.1760 level.

The British pound continued to see a lot of choppy back-and-forth trading on Friday as the US dollar strengthened against most currencies.

The euro got hammered during the trading session on Friday as interest rates in the United States rallied quite significantly.

The West Texas Intermediate Crude Oil market fluctuated during the trading session on Friday as the US Labor Department released its Non-Farm Payroll numbers for the month of July, adding 943,000 to the employment rolls.

The S&P 500 rallied just a bit during the trading session on Friday, as we continue to see a lot of upward mobility in this market.

The NASDAQ 100 pulled back a bit during the trading session on Friday as the interest rates in the United States spiked.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 9, 2021 here.

The CAC Index rallied significantly during the trading session on Friday as we continue to see luxury goods do quite well due to the rich becoming richer during the pandemic.