Forex Daily Forecast, Analysis and Prediction

The gold markets gapped higher to kick off the trading session during the day on Monday, broke above $1600, and then pulled back towards the 50 day EMA.

The South African Rand has gained against the US dollar during trading on Monday, as the US dollar got hit by just about everything on the planet.

AUD/USD: Looks like the price put in a medium-term bottom

The death toll from the Coronavirus in the United States has risen to six and the disease has spread to more countries and capitals around the world, even as the number of new cases in China has fallen to its lowest level in six weeks.

USD/JPY: Stock rally not strongly reflected here

Since the beginning of this week’s trading, gold prices has been instable by trying to rise to the $1611 an ounce, and then returning to the $1584 support before settling around the $1600 level an ounce.

BTC/USD: Higher support at $8,729?

Pressure continue on the GBP and adversely affecting its performance against most other major currencies.

For seven trading sessions in a row, the EUR/USD price is moving in an upward correction and the last three sessions were the strongest among those gains.

GBP/USD: Pound Remains Weak

The US dollar has gapped lower against the Japanese yen on Monday, only to turn around and rally above the 200 day EMA before pulling back yet again.

The Australian dollar has rallied a bit during the trading session on Monday after initially gapping lower.

Following the latest Bitcoin crash, eliminating hopes that this cryptocurrency possesses similar safe-haven attributes like gold, more downside cannot be ruled out

The British pound went back and forth during the trading session on Monday as we had initially gapped lower, but the market recovered during the day.

EUR/USD: Euro acting as safe haven