Forex Daily Forecast, Analysis and Prediction

The Euro tried to rally initially during trading on Monday and what would have been the first opportunity traders had to react to the increased tariffs coming out of the United States on the Chinese.

The Australian dollar initially fell hard during the trading session on Monday, as traders finally had an opportunity to react to the tariffs added by Donald Trump late on Friday.

The US dollar shot higher during early trading on Monday, as we broke above the 20 MXN level.

The Bitcoin market went back and forth in a rather quiet trading during the trading session on Monday, which is probably a good thing considering everything else that we had seen around the financial world.

The S&P 500 initially gapped lower to kick off the week, as we have seen a lot of concern when it comes to global trade after Donald Trump added more tariffs on the Chinese.

The West Texas Intermediate Crude Oil market initially gapped lower in reaction to the total “risk off” type of situation that we found ourselves in in early Asian trading.

The NASDAQ 100 initially gapped lower to kick off the week as we had a bit of a “risk off” type of situation.

Natural gas markets have rallied significantly during the trading session on Monday as traders returned from the weekend.

USDCAD: Bearish break below 1.3251

USDCHF Analysis: Consolidating between 0.9774 and 0.9818

GBPUSD: Still bullish above 1.2195

EURUSD: More bearish below 1.1111

In the latest USD/JPY technical analysis, we noted that the failure of the pair to penetrate above 106.70 formed a consolidation area foreshadowing the next strong move.

It was natural that the gold price was strongly bullish in early trading today after the dramatic events at the end of last week's trading.

The recent gains of the GBP/USD pair, which hit three-week highs at 1.2293, will not last, as the Brexit future grows darker, and expectations grow that Britain will leave the EU without agreement.