Forex Daily Forecast, Analysis and Prediction

On Friday of last week, the USD/MXN demonstrated its ability to climb higher and hit the 20.60000 mark.

The USD/ZAR has delivered a challenging trading environment the past month as choppy conditions and tests of resistance have been on display.

Technical traders need be ready to change their perspectives often when trading; they must be able to react to evolving circumstances.

Despite the strength of the US dollar, the price of gold is trying to stabilize above the $1872 resistance level.

At the beginning of this week's trading, bulls tried to stabilize the GBP/USD close to the previous week's gains, around the 1.3758 resistance level.

The USD/JPY has been moving within a bullish channel, stabilizing around the 105.00 resistance level at the beginning of Tuesday's trading and waiting for more momentum.

The EUR/USD had a bearish start to the week as it plummeted to the 1.2058 support level, the same level tested last week, with 1.2000 as the next target.

The DAX Index bounced during the trading session on Monday after initially gapping lower.

The British pound tried to rally during the trading session on Monday, but as you can see, it struggled during the session to keep the gains, breaking down towards the bottom of the range from the last week or so.

The euro broke down significantly during the trading session on Monday to reach down towards the 1.2050 level yet again.

The NASDAQ 100 bounced from the 50-day EMA, showing signs of strength again and an outsized move to the upside.

The S&P 500 initially dipped during the trading session on Monday but started to see buyers jump back into the market as we have held the uptrend line.

The pair has room to fall to 0.7555, or even 0.7500.

The West Texas Intermediate Crude Oil market pulled back a bit during the beginning of the session on Monday but then shot straight up in the air.

The US dollar rallied a bit during the trading session on Monday against the loonie, as we continue to pressure the 50-day EMA.