Forex Daily Forecast, Analysis and Prediction

Gold price recorded its first weekly loss after trading in the green for three consecutive weeks.

The EUR/USD exchange rate faces the risk of further losses in the coming days; however, the downward momentum is likely to fade.

According to recent trades, the GBP/USD exchange rate has declined by 2.0% last week and still appears strong, but a limited rebound is possible in the coming days.

The recent cautious comments from Japanese central bank officials regarding further tightening brought a lot of losses to the Japanese yen against other major currencies and gave up a lot of its sharp gains.

Yesterday the USD/BRL closed near its high, and once again touched values seen when nervous buying took place on Thursday and Friday of last week.

The USD/SGD jumped higher on Friday after the U.S jobs numbers announcement, and in early trading this week has sustained a new price realm as speculators question what’s next for the currency pair.

The Euro has found a little bit of support near the 1.0950 level, an area that has been important multiple times in the past.

The DAX has shown itself to be negative during the trading session on Monday, but at this point in time, it looks like the market has seen the 19,000 euros level as important.

As you can see, the Japanese index has pulled back pretty significantly during the trading session on Monday, but that does make a certain amount of sense, considering that the 40,000 level, of course, has a lot of psychology attached to it.

The market is likely to continue to see a lot of volatility from what I see, and at this point in time I think we’ve got a situation where traders will have to look at this through the possibility of trying to find value wherever we can.

There are a lot of different things coming around at the same time when it comes to technical analysis of the CAD/JPY pair, and therefore I think it’s worth noting that the market is at an interesting place that a lot of people will be paying close attention to.

The S&P 500 pulled back just a bit during the trading session on Monday as we continue to see a lot of noisy trading overall.

The GBP/USD pair has stood out a bit, as it looks like we are rapidly approaching a confluence of potential support based on technical analysis and market history.

The Aussie dollar has fallen pretty significantly during the early hours on Monday as we are approaching the 50 day EMA.

The USD/CHF pair continues to see a lot of noisy behavior near the 0.86 level, and this has caught my attention.