Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair succeeded in achieving a quick compensation for last week's losses.

The US dollar index, DXY, collapsed to the 91.99 support.

The GBP/USD performance highlights the extent of the US currency suffering, as with the bleak outlook for Brexit, the pair succeeded in moving upwards towards the 1.3418 resistance at the time of writing, the highest level in eight months.

Continuous pressures on the US currency are still present, which explains the continued downward performance of the USD/JPY in the recent trading sessions.

AUD/USD: New long-term highs hit again

The US dollar has rallied quite nicely during the trading session on Monday but has given back quite a bit of the gains late in the day as it shows the ¥106 level to be resistive.

The Euro rallied again during the trading session on Monday but has pulled back from the highs as we continue to see a lot of noise between here and the 1.20 level.

The S&P 500 has rallied a bit during the trading session on Monday but has given back a bit of the gains in order to form a less than enthusiastic candlestick.

The Aussie dollar continues to look very strong, as we have broken above the top of a massive bullish candle from the previous session.

The NASDAQ 100 has rallied again during the trading session on Monday, as we continue to see money flow into the tech sector.

USD/JPY: Unpredictable price action

The British pound has shown itself to be somewhat resilient during the trading session on Monday, as we initially dipped lower but then shot higher again.

BTC/USD: Resistance at $11,924 looks pivotal now

Brazil remains under the ongoing stress of the Covid-19 pandemic and will likely cross the 4,000,000 infection level this week.

South Africa continues to struggle with the Covid-19 pandemic, reporting over 2,000 new cases daily.