Forex Daily Forecast, Analysis and Prediction

The US dollar rallied again on Monday to reach towards the 14.75 rand level, an area that has been tested previously, as we formed a handful of shooting stars in that region.

The West Texas Intermediate Crude Oil market found itself on its back foot Monday as there was suddenly a lot of negativity.

The euro fell yet again during the trading session on Monday as we continue to see interest rates in the United States pick up.

The British pound drifted just a little bit lower during the trading session on Monday as we continue to see the US dollar flex its muscles.

The GBP/USD pair retreated after the strong American vacancies data and as US bond yields rose.

The EUR/USD pair remained under pressure during the Asian session as investors refocus on the upcoming German sentiment and US inflation data.

The BTC/USD price soared to the highest level since May as sentiment in the industry improved.

The AUD/USD pair tilted lower as the number of COVID cases in Australia kept rising and as US Senate moved closer to passing the $1 trillion infrastructure bill.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 10, 2021.

The USD/BRL is traversing near short- and mid-term highs which speculators may find enticing for wagers within the Forex pair.

Speculators in the USD/ZAR have been delivered a strong dose of volatility the past handful of days as reversals higher produced fireworks.

The USD/INR continues to incrementally produce short-term bearish momentum and traversed to a low of nearly 74.0300 before the weekend.

ETH/USD screamed to short-term highs in early trading yesterday as a weekend rally became pronounced.

Friday saw the worst trading session for gold in nearly two months, as the price fell from the $1805 resistance to the $1759 support, before closing at $1764.

The USD/JPY has been recovering strongly, most recently reaching the 110.35 resistance level.