Forex Daily Forecast, Analysis and Prediction

The GBP/USD has now exploded to the upside, supported by disappointing numbers for US jobs.

The US jobs numbers are still negatively affecting the performance of the US dollar against the rest of the other major currencies.

At the beginning of this week's trading, the EUR/USD pair continued its correction to the upside, with gains that reached the 1.2178 resistance level.

The West Texas Intermediate Crude Oil market fell significantly during most of the trading session on Monday but recovered by the end of the day.

The FTSE 100 initially tried to rally during the trading session on Monday but then fell enough to show signs of weakness.

The Canadian dollar rallied again during the trading session on Monday as we are now seeing the US dollar trade just below the 1.21 handle.

The NASDAQ 100 broke down rather significantly during the trading session on Monday below the 50-day EMA.

The S&P 500 initially tried to rally during the trading session on Monday but gave back the gains to fall towards the 4200 level.

Support at 0.7816 likely to be today’s pivotal point.

Support at the 1.2129 level looks pivotal.

The euro was very quiet during the trading session on Monday as traders came back to work and sold off the US dollar against most other things, but the euro lagged.

The British pound broke significantly higher during the trading session on Monday, as we have finally cleared the crucial 1.40 level on a daily close.

Gold markets did very little during the trading session on Monday as they are testing a downtrend line that started at the very top of the market several months ago.

The Australian dollar rallied significantly during the trading session on Monday but gave back the gains quite rapidly.

The Bitcoin market rallied a bit to kick off the trading session on Monday, but also gave back all of this gains to show a slightly negative attitude.