Forex Daily Forecast, Analysis and Prediction

The US dollar went back and forth during the trading session on Monday, as the Federal Reserve cut interest rates by 100 basis points

For five trading sessions in a row, the GBP/USD price is moving inside a violent descending channel that pushed it towards the 1.2201 support, the lowest in five months, before settling around 1.2270 at the time of writing.

In the beginning of this week’s trading, the EUR/USD pair attempted to rebound higher, but gains did not exceed the 1.1236 level.

AUD/USD: New 11-year low prices

The Euro has rallied significantly during the day on Monday, reaching towards 1.1250 level before pulling back a bit.

The S&P 500 has crashed towards the 2400 level, an area that has been supported previously.

USD/JPY: Both currencies relatively strong

The British pound initially tried to rally during the trading session on Monday, reaching as high as 1.24 before rolling over and showing signs of exhaustion.

The NASDAQ 100 has gotten crushed again during the trading session on Monday, as the market sliced through the 7000 level to close just above it.

The Australian dollar initially gapped lower but then shot straight through the air as people traded the surprise announcement that the Federal Reserve was cutting interest rates

Silver markets got absolutely hammered during the trading session on Monday, losing 15% at one point.

Looking at the price action on Monday, I believe that Bitcoin is still going to see a lot of violent swings back and forth,

The Federal Reserve is cutting interest rates to zero

The FTSE 100 broke down rather significantly during the trading session on Monday to open up the week, as one would expect.

The gold market had rallied initially during the open on Monday, as the Federal Reserve surprised the world by cutting interest rates by 100 basis points.