Forex Daily Forecast, Analysis and Prediction

During the trading session on Monday, there were large sell orders that came into the marketplace to push prices down.

The Canadian dollar strengthened a bit against the US dollar during the trading session on Monday, as the pair has reached just below the 1.26 level at one point.

The West Texas Intermediate Crude Oil market had a very bullish candlestick form for the Monday session as it gained 3.8%.

The EUR/USD is rising for the fourth consecutive day ahead of important testimony by Jerome Powell and the EU consumer inflation data.

The AUD/USD price rose to the highest level since April 2018 because of a weak US dollar, higher commodity prices, and higher Australian interest rate expectations.

The GBP/USD is rising for the fourth consecutive day ahead of the UK employment, US consumer confidence data, and testimony by Jerome Powell.

The BTC/USD price retreated after surging to an all-time high of $58,341 during the weekend.

USDT/USD is not a highly speculative cryptocurrency pair for traders, but the next week of trading for Tether could prove intriguing.

DOGE/USD is proving a tough battleground for speculators who are trying to pursue short-term bullish behavioral sentiment.

ETH/USD continues to trade with lightning speed and traders brave enough to speculate on the asset need to be alert and use all risk management tactics.

The past five days of trading within the USD/CAD have seen choppy conditions, but bearish momentum continues to prevail.

Gold futures posted their biggest weekly loss in more than a month as a death cross pattern emerged for the precious metal.

Although the US dollar recovered during last week’s trading, the GBP/USD pair made stronger bullish breakouts that resulted in a move towards the 1.4036 resistance, the highest for the pair in 3 years.

At the beginning of last week's trading, the USD/JPY performed well, as it aggressively breached the 106.00 resistance level and reached the 106.22 resistance level, its highest in five months.

The EUR/USD sold off and retreated at the beginning of last week’s trading to the 1.2023 support level, then rebounded higher at the end of the week to the 1.2144 resistance level before closing steadily around 1.2117.