Forex Daily Forecast, Analysis and Prediction

Crude oil drops at the open as the markets continue to see the headlines out of the Middle East suggesting that we are going to see the Straight of Hormuz opening soon.

The US dollar initially fell at the open against a lot of currencies, as traders are looking to press the issue on potential peace breaking out.

The Euro has rallied early on Monday, as traders are pricing in the idea that the United States and Iran might be looking to extend the ceasefire and move towards peace in general.

The Australian dollar rose in early trading on Monday, as the idea that the Iranians and Americans can agree on something has traders looking to add more risk to their portfolios.

The US dollar fell to kick off the session on Monday, as we are looking at the 160-yen level as a potential launching pad for a longer-term move.

A strong selloff has occurred in the USD/MXN over the past few trading sessions, this morning’s price action has seen another move lower as the currency pair is near 17.19200 approximately.

Positive comments from both sides of the conflict in the Middle East regarding an approaching peace agreement—which would initiate the reopening of the Strait

Technically, the EUR/USD currency pair continues to move near important resistance levels following a strong bearish wave over the past few weeks. The current

EUR/CHF rebounds from 0.92 as traders watch the 200-day EMA for a potential bullish breakout toward 0.94.

Silver gaps higher on possible short covering, with traders watching the $70 level for confirmation of further bullish momentum.

The NASDAQ 100 remains supported as buyers watch Middle East headlines and the 30,000 resistance level for a possible breakout.

Bitcoin remains volatile as traders watch $65,000 for a bullish breakout and $60,000 for a possible bearish signal.

Copper remains bullish after gapping higher, with strong demand and limited supply supporting further upside despite volatility.

GBP/USD remains trapped in a 200-pip range between 1.33 support and 1.35 resistance as traders watch for a breakout.

USD/CAD tests the crucial 1.40 resistance area as a potential Golden Cross supports the bullish outlook for the US Dollar.