Forex Daily Forecast, Analysis and Prediction

Bitcoin: Resistance confluence at $10,440 looks strong

Gold paused its strong rally after positive developments in regards to the US-China trade war prompted a delay in fresh tariffs as well as the temporary exemption on certain items.

The US Federal Reserve will announce its interest rate decision today and markets expect a 25 basis point interest rate cut to a range between 1.75% and 2.00%.

After the UK Parliament removed a no deal option from Brexit negotiations for the time being, the British Pound rallied sharply against the Euro which retraced the preceding rally.

The strong rally in the AUD/CHF, which originated from its intra-day low of 0.64933, is now exhausted and a sideways trend started inside of its resistance zone.

USDCAD: Weakly bullish from 1.3236

USDCHF Analysis: Room to rise but choppy

GBPUSD: Bulls challenging key 1.2500 area

EURUSD: Choppy consolidation above 1.1000 area

USDJPY: Strong resistance from 108.43 to 109.00

NZDUSD: Bearish move may complete soon

At the start of the week, ETH/USD opened with a gap to the upside which took price action above its 61.8 Fibonacci Retracement Fan Resistance Level.

AUDUSD: More bearish below 0.6850

EUR / USD fell back to the 1.0993 support level as the pair failed to overcome the 1.1109 resistance which was successfully tested last week after the ECB announced its monetary policy and introduced more stimulus plans for the Eurozone economy.

Despite the resumption of the British-EU dialogue sessions on determining the Brexit path, the GBP/USD has stopped the correction which pushed it towards the 1.2505 resistance level