Forex Daily Forecast, Analysis and Prediction

The S&P 500 has gapped lower and broke down rather significantly during the trading session on Monday as traders continue to react to the negativity coming out of China.

GBP/USD: Strongly Bearish

The NASDAQ 100 has fallen rather hard during the trading session on Monday, as we continue to see a lot of concerned traders around the world.

The Euro initially tried to rally during the trading session on Monday, but then fell rather hard to reach towards the psychologically and structurally important 1.10 level.

GBP/USD Forecast: GBP tries to Rally but Looks Likely to Dipped Towards Trendline.

EUR/USD: Bearish

The Australian dollar has gapped lower to take off to the downside and reach towards the 0.6950 level.

While the West Texas Intermediate Crude Oil market has been an absolute disaster over the last couple of weeks, we are starting to run into signs of exhaustion as far as sellers are concerned.

The natural gas markets initially tried to rally during the trading session on Monday but gave back its gains as markets around the world generally were relatively sluggish.

Gold markets gapped to kick off the week as the Chinese coronavirus continues to have fear coming into the market.

The German DAX gapped lower to kick off a very negative session on Monday, as futures dropped all the way down to the 50 day EMA.

Todd markets went back and forth during the trading session on Monday as traders went back to work.

There is no doubt that the Japanese yen is one of the most popular safe-haven assets for investors in times of uncertainty, and the US dollar is behind it in this regard.

At the beginning of the Corona virus crisis, the price of gold was not much interested in the event, which explains the movement of the gold price in narrow and limited ranges between 1568 and the $1546 support.

The British Pound showed great resistance against the recent strength of the US dollar.