Forex Daily Forecast, Analysis and Prediction

The EUR/USD formed a double-top during the American and Asian sessions as traders waited for the latest US consumer inflation data.

After achieving a record high on the 9th of May near 53.00000, LINK/USD has reversed lower, but it remains within higher territory.

DOT/USD has struggled within a rather consolidated range and speculators maybe losing their patience, but opportunities near support levels may exist.

ADA/USD remains fast and made a record high this weekend, but it has reversed lower and is now testing intriguing short-term support levels.

ETH/USD remains a speculative paradise for traders who like volatility and dream of fast changes in value.

The sharp decline of the US dollar was a strong impetus for the price of gold to move to the level of $1845, its highest in three months.

The GBP/USD has now exploded to the upside, supported by disappointing numbers for US jobs.

The US jobs numbers are still negatively affecting the performance of the US dollar against the rest of the other major currencies.

At the beginning of this week's trading, the EUR/USD pair continued its correction to the upside, with gains that reached the 1.2178 resistance level.

The West Texas Intermediate Crude Oil market fell significantly during most of the trading session on Monday but recovered by the end of the day.

The FTSE 100 initially tried to rally during the trading session on Monday but then fell enough to show signs of weakness.

The Canadian dollar rallied again during the trading session on Monday as we are now seeing the US dollar trade just below the 1.21 handle.

The NASDAQ 100 broke down rather significantly during the trading session on Monday below the 50-day EMA.

The S&P 500 initially tried to rally during the trading session on Monday but gave back the gains to fall towards the 4200 level.

Support at 0.7816 likely to be today’s pivotal point.