Forex Daily Forecast, Analysis and Prediction

The month of February has been negative for the US dollar against the Mexican peso with traders continuing to take advantage of the interest rate differential and the swap at the end of each day.

The US dollar has been all over the place in the month of February, as we are looking at testing a resistance level that goes back to 1990.

The S&P 500 continues to see a range that traders are comfortable with, as we have been working off a lot of froth from the previous move.

The Nasdaq 100 has a tough month for February, as traders have been dealing with a whole list of external issues, and the earnings season. However, in the month of March, its likely we will continue to see resilience.

The $5,000 level has been crucial for most of the month of February, and the reaction to the horrific selling at the end of January, gives me hope for this market.

The Euro has been very choppy during the month of February as traders are trying to figure out where the two central banks are heading at the moment.

The crude oil market has been rangebound for the month of February but seems to be “perking up” as we leave February.

Bitcoin has been extraordinarily negative during February, as traders cannot find a reason to push the market higher. In fact, narrative after narrative has been wiped out.

EUR/USD Forex Signal: War Oil Fears Send USD Flying

The euro rallied ever so slightly on Friday, as we continue to see a nice set up for day trading, but longer-term moves are still waiting for clarity.

Gold has seen some buying pressure again on Friday, as traders have plenty of reasons to believe that this is still a bullish market.

The NASDAQ 100 has seen a bit of selling pressure at the moment, as we continue to worry about interest rates, as PPI came out hotter than anticipated.

Silver rose again on Friday, as we continue to see concerns about supply for the markets.

The US dollar fell to kick off the session on Friday, only to turn things around near the 50 Day EMA.