Forex Daily Forecast, Analysis and Prediction

The Australian dollar had a bullish session on Friday, but on Monday we saw an extension of that move.

The US dollar initially tried to rally on Monday but then fell again as crude oil markets rallied.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, as we have now cleared the $57.50 level.

The Bitcoin price (BTC/USD) soared to a record high of $47,405 after positive events from Tesla.

The GBP/USD price broke out in the American session helped by the overall weak US dollar after the Tesla Bitcoin announcement.

DOGE/USD is a top ten-ranked cryptocurrency according to market volume trading values.

The USD/BRL is trading within proximity of short-term lows, but traders should not be fooled into thinking there is a certainty that the Forex pair is going to break through support levels.

The USD/ZAR is traversing below the 15.00000 juncture and has produced incrementally lower resistance junctures the past week of trading.

The USD/INR continues to test long-term support levels and traders who believe a bearish move is likely to happen should practice patience.

The US dollar's strength contributed to the decline in the price of gold, which breached the $1800 support level, reaching a 2-month low at $1785.

After sell-offs pushed the GBP/USD pair towards the 1.3564 support level during last week's trading, the pair returned to the upside and closed the week around 1.3736.

For two weeks in a row, the USD/JPY has tried to correct the upside.

Last week's downward correction pushed the EUR/USD pair to the 1.1952 support level, its lowest in two months, before settling around 1.2050 after the US jobs numbers were announced.

The NASDAQ 100 fluctuated during the trading session on Friday after the jobs number came out a bit disappointing.

The DAX is struggling just above the 14,000 level heading into the weekend, as we are testing the highs yet again.