Forex Daily Forecast, Analysis and Prediction

The USD/SGD remains within sight of important resistance and trading volumes are low due to the long holiday weekend.

Although there is a long-term bullish trend, we are more likely to see a meaningful breakout on the short side.

The price of gold has been trying to rebound upward, but the gains of the bounce did not exceed the $1730 level, instead stabilizing around $1725 in this week's trading.

The GBP/USD pair is still attempting to rebound higher, but sufficient momentum is lacking.

For two weeks in a row, the USD/JPY has been moving in a distinct upward correction range that has launched it near the 111.00 resistance level, a one-year high.

Better-than-expected results from recent US economic data, especially with regard to the labor market, helped the US dollar achieve more gains before the market holiday.

The British pound is proving itself to be a relatively strong currency.

The EUR/USD price held steady in early trading as the market continued to reflect on the strong US employment numbers published on Friday.

The AUD/USD held steady in early trading as the market focused on the rising bond yields in the United States and the upcoming interest rate decision by the Reserve Bank of Australia (RBA).

The US dollar has rallied slightly during the trading session on Good Friday, as bankers were away for the holiday.

The US dollar has been going back and forth against the Indian rupee over the last several days, as we are sitting just below the 200 day EMA.

The West Texas Intermediate Crude Oil market has been back and forth in general, and it now looks as if we are continuing to hang onto the 50 day EMA.

The bitcoin markets continue to fail at the $60,000 level which is a bit surprising considering that the market had been in such a major bullish run until recently.

The US dollar has initially fallen during the trading session on Friday again against the South African Rand, reaching towards the 14.50 Rand level before turning around and rally in a bit.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of April 5, 2021.