Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rallied a bit on Monday to kick off the week on the right foot.

The S&P 500 gave up early gains to show signs of weakness yet again by forming a bit of an inverted hammer.

The NASDAQ 100 rallied significantly on Monday, but as you can see, gave up early gains to form yet another ugly candlestick.

The medium-term trend is downwards.

Gold fluctuated on Monday as it stays within the same consolidation area it has been in over the last four days.

The Australian dollar fluctuated on Monday as we are still looking for some type of clarity.

The Bitcoin market initially rallied on Monday but gave back a lot of the gains to form an inverted hammer, which is a potentially negative sign.

The euro initially sold on Monday, breaking well below the 1.18 level.

The British pound initially fell on Monday but then turned around to show signs of support.

The USD/BRL continues to trade in an oddly correlated trend compared to other major Forex pairs with a seemingly delayed reaction.

The AUD/USD has traversed slightly lower again today in trading, continuing its slight and incremental bearish momentum since the 7th of September.

The USD/INR has remained in the higher realms of a slightly bullish price range in the short term as broad market nervousness has been reflected in the Forex pair.

As of this writing, ETH/USD is trading slightly below the 3300.00 level which may be viewed as a rather nervous intersection for the cryptocurrency near term.

By the end of the week's trading, gold tried to recover above the psychological resistance of $1800, but the pressures brought it back to close around $1788.

The USD/JPY is still trying to break through the 110.00 psychological resistance to complete the upward correction.