Forex Daily Forecast, Analysis and Prediction

For three trading sessions in a row, the bears have been trying to push the EUR/USD to break the 1.1800 level, which paves the way for a stronger bearish breakout.

The WTI Crude Oil markets continue to show signs of strength, but are also stymied by the downtrend line that I have marked on this chart.

The S&P 500 initially tried to rally on Friday but gave back the gains to fall yet again.

The NASDAQ 100 initially tried to rally on Friday but gave back gains to form a very negative candlestick.

Gold markets were choppy again on Friday as options expiration may have been a bit of a factor.

The FTSE 100 initially tried to rally on Friday but gave back the early gains to form a bit of an inverted hammer.

The euro initially tried to rally on Friday but gave back the gains to show a less-than-desirable finish for the week.

The Canadian dollar has underperformed as of late, despite the fact that we have seen stable oil prices.

The British pound initially tried to go higher on Friday, breaking above a significant downtrend.

The Bitcoin market was relatively quiet during the Friday session as we continue to hang around the 50-day moving average.

The Australian dollar initially tried to rally on Friday but gave back the gains rather rapidly.

The key support at $43,836 is looking very significant.

Today’s pivotal point will likely be at 1.3808.

The EUR/USD pair is at a key support level ahead of the key US Consumer Price Index (CPI) data and as the Eurozone economic rebound accelerates.

The AUD/USD price remained under pressure in early trading as Australia continued making progress in handling the new COVID wave.