Forex Daily Forecast, Analysis and Prediction

EUR/USD: USD recovering

Following the collapse of the OPEC+ deal to limit supply in favor of price stability, oil prices suffered their most critical breakdown since the US invasion of Iraq in 1991.

The US dollar has gapped lower at the open on Monday, and then breaking down rather significantly after that showed just how weak the US dollar had become.

The S&P 500 gapped significantly lower to kick off the week on Monday, slicing all the way down towards the 2700 level.

The NASDAQ 100 gapped lower just like everything else did during the trading session on Monday as traders came out shorting right away.

After a violent sell-off yesterday due to the most significant collapse in oil prices, this currency pair recovered off of a support zone dating back to March 2009.

The Euro spiked significantly during the trading session on Monday as we gapped higher and then continued to just straight shoot to the moon.

The British pound initially surged during the trading session after gapping higher on Monday.

The Australian dollar has been all over the place during the trading session on Monday, breaking down towards the 0.63 level, an area that was the bottom of the financial crisis for the Aussie dollar.

Australian economic data showed a further contraction in consumer as well as business confidence.

After the US Federal Reserve executed a panic-inspired 50 basis points interest rate cut, markets are pricing an additional 75 basis point cut

AUD/USD: Increasingly likely that the price has put in a long-term bottom

USD/JPY: New 3-year low price

BTC/USD: Risk-off sentiment hammering Bitcoin

GBP/USD: Pound not in market’s focus