Forex Daily Forecast, Analysis and Prediction

Today’s pivotal point is likely at $40,625.

The price is more bullish above 1.4010.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 2, 2021.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 2, 2021 here.

The USD/ZAR has experienced a tumultuous two weeks of trading as August is set to begin, as reactions to unrest in South Africa’s communities remains nervous.

Difficult July Potentially Leads to Better August

Bitcoin traders should expect another month of surprises.

The S&P 500 was very noisy during the course of the month on July, and I suspect that August probably will not be any better.

Gold markets are building up for a move, and we could see that move come in August.

The NASDAQ 100 rallied again during the month of July, but it should not be thought of as an easy month.

DOGE/USD has battled off bearish ratios in the past week, but bullish traders are still being confronted by the lower price range as they decide on direction.

At this point, I think you are going to have a very choppy month of August.

As you can see on the longer-term weekly chart, the United States dollar has been very range-bound against the Indian rupee for roughly 2 years.

One-Month Highs Being Tested as August Set to Begin

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