Forex Daily Forecast, Analysis and Prediction

The British pound rallied rather significantly during the day on Monday, breaking the back of the inverted hammer that was formed on Friday.

At this point, I think it is much more likely that pullbacks will continue to offer buying opportunities based upon value.

The Euro has rallied a bit during the trading session on Monday to kick off the week, but it seems to struggle in the same area time and time again.

The US dollar has fallen rather hard against the Japanese yen during trading on Monday to kick off the week, which should not be a huge surprise considering that we continue to see the US dollar lose ground.

The US dollar has fallen again during the trading session on Monday against the Mexican peso, reaching down towards the 21 pesos level.

Attempts to correct upwards pushed the pair towards the 1.1917 resistance and settle around 1.1850 at the beginning of this week's trading.

The bulls tried to take advantage of the USD weakness and move the gold price higher, to reach the resistance at $1967 an ounce, to avoid a downward close during last week’s trading after profit-taking selling that pushed the gold price towards the support at $1907 an ounce.

We always recommend selling the sterling from every ascending level.

For two weeks in a row, the USD/JPY performance was disappointing, as the pair continued to move in limited ranges amid a more downward tendency.

How long has the Brexit saga been going on now?

The trading waters within the USD/ZAR have remained turbulent the past week.

Trading the USD/INR has not been for the faint of heart the past couple of weeks.

The USD/SGD has proven a solid barometer of global risk sentiment once again.

While Covid-19 infections are rising globally, Sweden conducted the most massive Covid-19 test sequence in the Nordic kingdom, with a positivity rate of just 1.2%, a pandemic low.

Pakistan crossed the 300,000 level in total Covid-19 infections, remaining the seventeenth most-infected country.