Forex Daily Forecast, Analysis and Prediction

The Australian dollar has been horrible to trade unless you are a short-term trader and are willing to take advantage of range-bound markets.

The Ethereum market initially tried to rally during the trading session on Friday but gave back the gains to show signs of exhaustion again.

The USD/ZAR has continued to demonstrate an ability to incrementally track lower and is now touching long-term support levels.

As of this writing, DOGE/USD is set to enter the month of June testing vital support levels, following record highs made only three weeks ago.

ADA/USD produced destructive trading during the month of May, depending on which side of the trend speculators were participating on.

Will June trading be as dangerous as the past four weeks?

BTC/USD has continued to face headwinds as the month of June gets ready to start, and traders are being confronted by rather steady bearish conditions.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of May 31, 2021.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 31, 2021 here.

The market looks likely to get a little bit of a short-term pullback.

At this point, it is very possible that the market is due for a short-term pullback.

It certainly looks like we are trying to build up enough pressure to break out of an ascending triangle.

The US dollar fell during the month of May against the Indian rupee, which should not be a huge surprise, as we have seen the US dollar fall in general.

The S&P 500 has been a bit choppy during the month of May, but as we head into June, it looks as if we are going to try to take off to the upside.

Start the week of May 31, 2021 with our Forex forecast focusing on major currency pairs here.