Forex Daily Forecast, Analysis and Prediction

While US equity markets are at all-time highs, the US Dollar is under selling pressure as forex traders react to the negative economic news at a time equity traders take it as a bullish sign.

Following the election of a new Speaker of the House of Commons in the UK, uncertainty about next month’s snap election as well as Brexit remained elevated; it took four ballots to get the new speaker elected.

Risk-on mood has swept across global financial markets with US equity markets at all time highs despite a continuing string of economic disappointments and red flags which appear under the surface

Economic data out of Australia and China showed that the slowdown has accelerated as the Reserve Bank of Australia kept interest rates unchanged as expected

USDCAD: Level at 1.3120 looks pivotal again

USDCHF Analysis: More bullish above 0.9900

GBPUSD: Weakly bearish below 1.2924

EURUSD: Today’s pivotal point likely to be 1.1131

Relative calm has returned to the cryptocurrency market following a strong rally induced by Bitcoin.

With the beginning of the week's trading, the European single currency, Euro, is up for an important date with the first official remarks by new ECB Governor Christine Lagarde

Mixed results from the official jobs report may support the continuation of the bullish correction for the GBP/USD this week as well

For three consecutive trading sessions, the price of gold moved up to the $1516 resistance, taking advantage of the pressure on the US dollar, which is inversely moving with the yellow metal.

The USD/JPY price did not celebrate its gains at the beginning of last week, which pushed it to the 109.28 resistance, its highest level in three months.

The NASDAQ 100 rally during the trading session on Friday after the jobs never came out better than anticipated.

The WTI Crude Oil market rallied significantly during the trading session on Friday, especially later in the day, to break above the 50 day EMA.