Forex Daily Forecast, Analysis and Prediction

The S&P 500 went back and forth during trading on Monday, granting slightly higher during the trading session on Monday.

Gold markets gapped a little bit higher during the trading session on Monday, starting out the week rather strong.

USDCAD: 1.3000 area holds up

USDCHF Analysis: Trend line confluence

GBPUSD: More bearish, 1.2500 in sight

EURUSD: Very flat between 1.1235 and 1.1279

For three trading sessions in a row, the EUR/USD gains stop around the 1.1280 resistance level awaiting stronger catalysts to continue the bullish correction tone in order to breakout the bearish channel which still strongly stands.

Federal Reserve Chair, Jerome Powell, stressed again in his testimony to the US Congress on what he said before, that the US central bank is ready to cut interest rates

On the gold’s daily chart, it seems clear that the stability of prices for four trading sessions respectively, with gains stopped around the $1427 resistance level, before settling around $1411 at the time of writing.

With the beginning of this week’s trading, the USD / JPY pair rebounded to the 108.98 resistance level, but with the US Federal Reserve's signs of nearing the US interest rate cut, the pair fell to the 107.85 level

NZDUSD: New bullish 3-month high

AUDUSD: Bullish but 0.7050 the real test

USDJPY: More bearish below 108.06

Bitcoin: Possible long-term buying opportunity below $10,000

The US dollar initially tried to rally during the trading session on Friday but then collapsed against the Japanese yen as the greenback got sold off against just about everything.