Forex Daily Forecast, Analysis and Prediction

The bearish momentum continues to dominate the performance of the EUR/USD as the single European currency continues to lose confidence amid the slowing of the Eurozone economy led by Germany as global trade wars continue.

The dollar and Japanese yen have been the most prominent as safe havens recently amid global trade tensions.

During the transactions of Tuesday, May 21, 2019, the markets will focus on the announcements from the economic agenda

NZDUSD analysis: approaching psychological level at 0.6500

AUDUSD analysis: AUD gives up post-election bounce

USDJPY: Price advances within bullish channel

Bitcoin still topping out above $8,000

USDCAD remains trapped in its long-term price range

USDCHF supported above 1.0070 as risk appetite recovers

Making a new 4-month low

Still bearish below resistance at 1.1181

The Euro went back and forth during the trading session on Monday to kick off the week, as the 1.1150 level has offered a bit of support, as it is in the middle of the consolidation area that we are currently bouncing around in.

The US dollar continues to be very choppy against some emerging market currencies, and of course the South African Rand will be any different.

The WTI Crude Oil market went back and forth during the trading session on Monday, as we continue to see a lot of resistance near the $63.66 level.

The S&P 500 initially tried to break down on Monday, turned around to rally again, but then rolled over at the 50 day EMA.