Forex Daily Forecast, Analysis and Prediction

This morning’s New Zealand trade data showed an increase in exports for October over September, but the trade deficit widened slightly more than expected

Economic data out of the Eurozone has been mixed with a bearish bias, mirrored by the US.

As the Hong Kong unrest continues and China labeled this weekend’s election result as manipulated by foreign actors, the positive impact on the Singapore Dollar appears to be fading.

USDCAD: Pivotal point at 1.3251

USDCHF Analysis: Bullish consolidation above 0.9960

GBPUSD: More bearish but 1.2822 strong support

EURUSD: Pivotal point at 1.0993

For the second day in a row, the EUR/USD is struggling not to break below the 1.1000 psychological support to avoid further selling.

The strength of the US dollar, the return of risk appetite and the abandonment of safe havens put pressure on the price of gold, which fell to $1451 support before settling around $1457 at the time of writing.

After the price collapsed to the 1.2822 support at the end of last week's trading, the pair returned with gains that reached the 1.2911 resistance at the beginning of this week,

Investor risk appetite returned amid optimism that the US-China trade agreement could happen and the USD/JPY pair had a better chance of an upward correction to the 109.20 resistance

NZDUSD: Bullish flag pattern holding

AUDUSD: Dominant bearish trend line still holds

The Aussie dollar has been noisy during the trading session yet again on Monday, as we continue to chop around in general.

The Euro initially tried to rally during the trading session on Monday but found enough resistance yet again to turn around and form a bit of a negative looking candle