Forex Daily Forecast, Analysis and Prediction

The Euro has rallied nicely to kick off the week on Monday, peeking above the 200 day EMA.

GBPUSD: Bearish below 1.2961

Despite the fact that the GDP figures came out very disappointing during the trading session on Monday, the British pound has recovered quite nicely to hang on to the 1.30 level against the US dollar.

EURUSD: More bullish above 1.1131

The Australian dollar has rallied a bit during the trading session on Monday to break above the top of the candlestick from the Friday session.

When I state that the West Texas Intermediate Crude Oil market is at “fair value”, what I mean by that statement is that we are directly in the middle of the overall trading range that the market has been in

The natural gas markets did pull back just a little bit during the trading session on Monday, as the market started off on the back foot.

Gold markets fell a bit during the trading session on Monday.

Bitcoin has rallied slightly during the trading session on Monday to kick off the week, as we continue to bounce around the 200 day EMA.

We did not notice a significant change in the USD/JPY movements despite the weak results of the US job numbers by the end of 2019.

Gold ounces lost more than 70 dollars from its gains during last week's trading with easing global geopolitical tensions.

In the beginning of this week’s trading, the pound will react to the results of important economic releases, led by the UK's GDP growth and the important industrial production rate.

On the daily chart, there was a new breakdown in the EUR/USD direction, testing the 1.1085 support.

Volatility has returned to the cryptocurrency market, and Bitcoin added over $2,000 from its December intra-day low of 6,386.75 to its current January intra-day high of 8,406.53

Bearish pressures are on the rise, as the EUR/GBP is challenging the bottom range of its resistance zone.