Forex Daily Forecast, Analysis and Prediction

USD/JPY: Volatility remains low

The Australian dollar initially tried to rally during the trading session on Monday but found the area above the 0.71 level to be far too much to overcome, as the market has pulled back.

The S&P 500 initially tried to rally during the trading session on Monday but gave back the gains as the 3500 level has caused a bit of resistance.

BTC/USD: $11,553 now likely to be strong support

GBP/USD: Price seems unwilling to get established above 1.3000

The US dollar lost against the Euro quite early during the trading session on Monday, as the EUR/USD pair has reached towards the 1.18 handle.

Silver markets have rallied a bit during the trading session on Monday, breaking above the 50 day EMA as we continue to see a lot of momentum jumping into the marketplace.

EUR/USD: Break above 1.1803 would be a bullish sign

The gold markets initially rallied during the trading session on Monday to kick off the week, as the US dollar got sold off in Asian trading.

The West Texas Intermediate Crude Oil market continues to go sideways more than anything else as there is no clear narrative as to where we are going next.

The British pound continues to struggle with the big figure of 1.30 above, where we have pulled back from.

Throughout last week's trading, the EUR/USD was subjected to downward pressures, which it pushed towards the 1.1688 support and closed the week’s trading around the 1.1716 level.

The US dollar strength is still preventing gold prices from benefiting from the global anxiety of the second coronavirus wave, while the stimulus talks for the US economy have stopped.

Instability and extreme volatility was the most characteristic of the GBP/USD performance during last week’s trading.

Risk aversion and the mixed US economic results was a catalyst for the USD/JPY pair to move downwards towards the support level at 105.03, before closing last week’s trading around 105.40.