Forex Daily Forecast, Analysis and Prediction

The USD/MXN has re-established its bearish trend in a strong manner, but holiday trading volumes remain light, which may create a bit of skepticism among some speculators.

The USD/INR is traversing important support levels and has proven that downward momentum has the capability of re-establishing its bearish trend.

Deeper retracement likely if support breaks down.

The West Texas Intermediate Crude Oil market initially tried to rally during trading on Monday but gave back the gains to see negativity.

The US dollar fluctuated during the trading session on Monday as we sit just above the 14.50 rand level, an area that could continue to offer support as we are over-extended to the downside.

The Australian dollar initially tried to rally a bit during the Monday session, but as we are trading between Christmas Day and New Year’s Day, it is the thinnest time of year.

The NASDAQ 100 shot higher during the trading session on Monday as we continue to see buying pressure in general.

The S&P 500 had a very strong session during the day on Monday as traders came back from the Christmas holiday.

The British pound initially tried to rally during the session on Monday, but then broke down below the 1.35 level to show signs of weakness.

The gold markets tried to rally during the trading session on Monday in what would have been very thin trading.

The silver market has broken above the $26 level during thin trading on Monday as traders came back to work after Christmas.

The euro rallied during the trading session on Monday but gave back the gains rather quickly.

Bitcoin markets exploded to the upside again during the trading session on Monday, although in very thin trading.

Price remains within wide medium-term range.

The Australian dollar keeps rising against the US dollar with the reopening of weekly trading.