Forex Daily Forecast, Analysis and Prediction

Gold markets have been somewhat quiet during the trading session on Monday, which isn’t a huge surprise considering that it was Labor Day in the United States.

After price action in the AUDUSD was rejected by its 61.8 Fibonacci Retracement Fan Resistance Level, bearish pressures mounted and a sell-off followed.

Silver: Consolidating triangle below $18.50

NZDUSD: Bullish inner trend line break

AUDUSD: Weakly bearish below 0.6750

USDJPY: Messy and hard to predict

Bitcoin: Bearish below $10,000

The Euro has broken down significantly during the Friday session, slicing through the 1.10 EUR level.

USDCHF Analysis: Short-term bullish trend

GBPUSD: More bearish as no deal Brexit becoming more likely

EURUSD: New 2-year low prices below 1.1000

The US dollar has been back and forth against the Japanese yen for some time now, and I think that will continue to be the case as we head towards Labor Day in the United States on Monday.

The WTI Crude Oil market initially tried to rally on Friday but then broke down below the 50 day EMA.

The Australian dollar has recovered quite nicely during the trading session after initially breaking down on Friday, as we have reached below the 0.67 level at one point.

Keep in mind that there will be some electronic trading today but it’s also Labor Day in the United States so it’s very unlikely to have a huge move unless of course there was a shock over the weekend due to headlines.