Forex Daily Forecast, Analysis and Prediction

The BTC/USD is on the verge of a bullish breakout to $50,000.

The GBP/JPY has seen another swift climb in trading today as important long-term resistance levels have been proven vulnerable.

The USD/BRL has remained within a tight trading band the past five days, but technical traders may believe that short-term indicators may be setting the stage for a small bearish trend to develop.

The USD/ZAR has continued to display a rather swift bearish trend as it has broken free from January’s bullish cycle which caused difficult days for speculators who insisted on looking for more downside action.

The USD/INR broken through critical long-term support this morning and has seen its bearish trend grow in strength.

Despite the weakness of the US dollar, gold declined at the end of last week’s trading, reaching the $1810 level, after gains in the same week pushed it to the $1855 level.

The bullish performance of the GBP/USD continued during last week's trading as the pair jumped to the 1.3866 resistance level, its highest in three years, before closing the week’s trading around 1.3853.

The USD/JPY experienced some profit-taking at the beginning of last week's trading that pushed it towards the support level of 104.40 before recovering and reaching 105.18, closing trading around 104.90.

The EUR/USD's upward correction path during last week’s trading resulted in testing the 1.2150 resistance level.

The price chart shows the price has lost most of its bullish momentum over the past few days.

The U.S. dollar is broadly weak and longs in this currency pair still seem to be good bets.

The EUR/USD price rose in early trading as investors looked ahead to a busy week in Europe and the United States.

The AUD/USD price rose in early trading helped by the Chinese lunar new year celebrations, weak US dollar, and the expected surge in Australian house prices.

The FTSE 100 pulled back just a bit during the trading session on Friday to reach down towards the 6425 level.

The DAX Index initially fell during the trading session on Friday but has found buyers again at the 13,900 level.