Forex Daily Forecast, Analysis and Prediction

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

Investors ignored safe havens despite the situation in the Middle East, which portends a war threatening the world's most important oil region.

There is no doubt that the increased investors’ risk appetite is hurting the price of gold , which has now happened with the price falling to $1495 an ounce, and failed at the beginning of this week's trading, to penetrate the $1512 height, recorded after the recent tensions in the Middle East.

Bitcoin: Resistance confluence at $10,440 looks strong

USDCAD: Pivotal point at 1.3236

USDCHF Analysis: 0.9946 looks very pivotal

The NASDAQ 100 gapped lower at the beginning of the week as pretty much everything else with any risk appetite attached to it did due to the drone strike in Saudi Arabia.

The West Texas Intermediate Crude oil market, as well as the Brent market, spiked after an attack in Saudi Arabia that has wiped out half of their refinery capacity.

The British pound broke down during the trading session on Monday, as the 1.25 level has offered far too much in the way of resistance.

The Euro initially tried to rally during the trading session on Monday but then broke down rather significantly to crash into the 1.10 EUR level.

The US dollar gapped lower to kick off the week as traders have the ability to react to the Saturday drone strike in Saudi Arabia.

The Australian dollar has tried to rally a bit during the trading session on Monday again, but turned right back around to show signs of exhaustion and has formed a shooting star yet again.