Forex Daily Forecast, Analysis and Prediction

Australian consumer confidence decreased ahead of the key holiday shopping season, but a phone call between officials from the US and China has once again grabbed the headlines.

West Texas Intermediate Crude Oil has pulled back quite a bit during the trading session on Monday but has also found a significant amount of support near the 200 day EMA.

USDCAD: More bullish

Natural gas markets got hammered during the trading session on Monday, reaching down towards the crucial 200 day EMA.

USDCHF Analysis: More bullish still

Bitcoin has broken down a bit during the trading session on Monday to show signs of weakness yet again, but we have bounced enough to form a bit of a hammer.

Gold markets fell again during the trading session on Monday, and with prime to test the support yet again. We have recently seen a bounce from the $1450 level, but now have given back those gains yet again.

GBPUSD: Evenly balanced between bulls and bears

EURUSD: Pivotal point at 1.0993

With the EUR/USD attempts during last week's trading to overcome the 1.1100 resistance and find the necessary momentum to confirm the strength of the bullish correction, it was normal that the decline quickly returned to the 1.1014 support, where the pair closed the week's trading around.

The strength of the US dollar has returned again, and therefore, the GBP/USD price dropped to the 1.2822 support during last Friday's trading session, ending all its recent gains that hit the 1.2985 resistance.

There is a variation of the reports around the possibility of signing the “Phase 1” agreement between the U.S and China, between the nearing of the signingو the threat of an escalation, and the return to negotiations until further notice.

Expectations continue to strongly indicate continued weakness in the pair's performance in the coming days.

NZDUSD: Bullish flag pattern about to break down?

AUDUSD: Dominant bearish trend line