Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 continues to see somewhat bullish behavior, but we also are seeing a bit of a struggle, as if we are “walking uphill” at the moment. Sluggish, yet bullish I believe is the best description of things.

US dollar plunged against the Canadian dollar again on Monday as we continue to see traders betting on the Federal Reserve being dovish, and oil perks up slightly.

The US dollar plunged against the Japanese yen during the trading session on Monday, and it looks like we will be trying to find value on a dip yet again.

The Australian dollar has rallied rather significantly on Monday, as we continue to see a lot of buying pressure. That being said, this is a market that has opposing central banks as far as rate outlooks, so this makes sense.

Futures trading via the Nasdaq 100 this morning has the index around the 25,280.00 vicinity, this as semi-calm conditions are prevailing for the moment, but speculators should continue to brace for potential fast moves.

The price briefly breaks to a new 3-year high before making a normal retracement, suggesting the outlook remains basically bullish.

The GBP/USD pair rose for two consecutive days after hitting the 50-day Exponential Moving Average as the US dollar slipped. It rose to a high of 1.3695, up sharply from this month's low of 1.3510.

The EUR/USD exchange rate rebounded and reached its highest level since January 30th. It rose to a high of 1.1915, up sharply from last week’s low of 1.1767 as focus shifts to key macro data from the United States, including retail sales, non-farm payrolls, and inflation.

Bitcoin price held steady above the key psychological level at $70,000 as volatility in the market dropped and a risk-on sentiment prevailed. The BTC/USD pair was trading at 70,800, up sharply from the year-to-date low of 60,100.

Solana has fallen 39% over the past 30 days, sliding to a two-year low of $67. The drop was accompanied by a sharp decline in futures activity, with Solana’s open interest falling by more than $3.7 billion over the same period.

The USD/MXN has returned to the lower realms it has tested on occasion since late January, this as the currency pair traverses the 17.25300 vicinity .

Bitcoin fell to a new 16-month low price, but rebounded to print a bullish V recovery before running out of steam at $71,762.

The US dollar initially broke higher during the trading session on Friday, breaking above the 17.5 level, only to turn around yet again, at the same important level it has all week.

The interest rate differential continues to be a mainstay of this pair, as we are levitating into the weekend, looking bullish overall.

The Australian dollar rallied a bit in the early hours of Friday, as the Aussie looks to rally into the weekend. The range continues to be well-defined, with the 0.79 level and the 0.81 level both offering important barriers.