Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied significantly again on Monday, as it looks like traders are trying to price in the idea of the Federal Reserve pausing tapering.

The 1.1750 level is holding as resistance.

The British pound rallied quite significantly on Monday as traders sold off the US dollar in general.

Gold markets rallied significantly on Monday to break above the 50-day EMA, and closing towards the top of the candlestick is a very positive sign.

The Australian dollar rallied significantly on Monday, as we have seen the 0.71 level offer quite a bit of support.

The market is perhaps getting ready to make a huge move.

The euro rallied significantly on Monday to kick off the week on the right foot.

The GBP/USD price popped on Monday as the risk-on sentiment spread across the financial market.

The BTC/USD price hovered slightly below the resistance at 50,000 as the strong recovery rally took a breather.

In early trading today, XRP/USD has been able to sustain short-term highs and stay above resistance levels from late last week.

The USD/BRL has maintained its bullish stance and has gathered additional upwards momentum in recent trading.

Gold bulls are waiting for a decline in the US dollar to shoot past the psychological resistance of $1800.

The USD/JPY kept its bullish momentum last week to some extend, hovering around the 110.00 psychological resistance level, crucial for a bullish trend.

The strength of the US dollar contributed to a bearish performance for the GBP/USD, which headed towards the 1.3600 psychological support level.

The bears triumphed last week as the EUR/USD fell to the 1.1664 support level, its lowest in nine months, before closing trading around 1.1700.