Forex Daily Forecast, Analysis and Prediction

The USD/MXN continues to embrace a higher price range, even after reversing slightly lower after hitting mid-term highs before going into the weekend.

The USD/ZAR has delivered traders a rather impressive range the past handful of days reminding all speculators that volatility can deliver joy and pain.

Resistance is holding so far below $50k.

The DAX Index initially plunged on Friday after gapping lower.

The Parisian CAC Index fell a bit on Friday to test a minor uptrend line, only to turn around and rally quite significantly.

The West Texas Intermediate Crude Oil market initially pulled back on Friday but found support just below the $75 level to turn things back around.

The S&P 500 initially fell on Friday but then turned around to show signs of life again.

The NASDAQ 100 initially broke down on Friday before turning around to form a bit of a hammer.

Gold markets went back and forth on Friday, showing signs of exhaustion after the massive bullish candlestick that we formed on Thursday.

The Australian dollar initially fell on Friday but then turned around to show signs of strength again in what has been a somewhat repeating pattern.

Bitcoin rallied significantly on Friday to show extreme strength again, as we find ourselves testing the $48,000 level.

The British pound initially fell a bit on Friday but then turned around to show signs of strength as interest rates in the United States started to fall again.

The euro recovered a bit on Friday, but after we have seen this massive amount of selling pressure, it is very unlikely that it is the beginning of a change in attitude.

$1.3577 is looking very likely to be today’s pivotal point.

The EUR/USD pair was little changed in early trading as investors continued to reflect on the recent Eurozone consumer inflation data.