Forex Daily Forecast, Analysis and Prediction

The S&P 500 broke down pretty significantly during the trading session on Monday, slicing through the 200 day EMA.

The US dollar got hammered during the trading session on Monday, as we had a major “risk off” move in both Forex markets and of course the equity markets.

The British pound is negative longer term, but over the last couple of sessions we have seen this market essentially consolidating around the 1.2150 level.

The NASDAQ 100 broke down rather significantly during the day on Monday, slicing through the vital 200 day EMA.

Bitcoin rallied significantly during the trading session on Monday to kick off the week, gaining over 10%.

Natural gas markets gapped lower to kick off the Monday trading session before grinding even lower.

The Australian dollar has initially tried to rally during the trading session on Monday but found enough of resistance at the 0.68 level to fall rather hard and break down through the bottom of the candle stick from Friday.

Gold markets rallied significantly on Monday to send the market higher, reaching towards the $1480 level before pulling back a bit.

USDCAD: Ranging from 1.3185 to 1.3250

USDCHF Analysis: Bullish bounce at 0.9700

GBPUSD: Support at 1.2092 still holding

EURUSD: Bullish break above 1.1200 area

For the third day in a row, the EUR/USD is trying to have a bullish correction after the recent violent bearish wave

Every time the GBP/USD tries to bounce higher, investors seize the opportunity to return to selling the pair.

Gold prices started the week with a stronger bullish momentum, reaching resistance at $ 1456, the highest price for six years, as global geopolitical and trade concerns intensify, often supporting investors buying safe heaven assets, notably gold.