Forex Daily Forecast, Analysis and Prediction

The CAC Index fell a bit during the trading session on Monday to kick off the week on the back foot, so it looks as if we are still trying to figure out whether or not the bottom of the ascending channel is going to hold.

The S&P 500 rallied a bit during the trading session on Monday to reach all-time highs yet again.

The NASDAQ 100 rallied rather significantly during the trading session on Monday to make fresh new highs yet again.

The question now is whether or not this momentum can continue, which quite frankly it needs to.

We are still very much in an uptrend, and that is the most important thing you should pay attention to.

Gold markets gapped just a little bit to the upside during the trading session on Monday to fill the gap, and then turned around to show signs of strength.

The US dollar rallied a bit against the South African rand during the trading session on Monday, as we have bounced from the 50-day EMA during the previous trading session.

As long as we stay above the $30,000 level, then there is still hope for a turnaround and a rally in the Bitcoin market.

I suspect that the month of July is going to be very noisy, but it may also be a decisive one for what happens next in the euro.

I certainly see a lot of bullish momentum at the moment.

Support level at 1.1903 looks pivotal.

The GBP/USD is down for the fourth straight day as the number of coronavirus cases in the UK keeps rising.

The BTC/USD price bounced back even as global regulators continued to warn about Binance, the biggest exchange in the world.

Throughout the last week’s trading, the price of the EUR/USD currency pair was in an upward correction range, but it did not find the momentum to be strong.

There are weakness factors that may negatively affect the performance of the sterling against the rest of the other major currencies.