Forex Daily Forecast, Analysis and Prediction

The S&P 500 gapped significantly lower to kick off the week on Monday, slicing all the way down towards the 2700 level.

The NASDAQ 100 gapped lower just like everything else did during the trading session on Monday as traders came out shorting right away.

After a violent sell-off yesterday due to the most significant collapse in oil prices, this currency pair recovered off of a support zone dating back to March 2009.

The Euro spiked significantly during the trading session on Monday as we gapped higher and then continued to just straight shoot to the moon.

The British pound initially surged during the trading session after gapping higher on Monday.

The Australian dollar has been all over the place during the trading session on Monday, breaking down towards the 0.63 level, an area that was the bottom of the financial crisis for the Aussie dollar.

Australian economic data showed a further contraction in consumer as well as business confidence.

After the US Federal Reserve executed a panic-inspired 50 basis points interest rate cut, markets are pricing an additional 75 basis point cut

AUD/USD: Increasingly likely that the price has put in a long-term bottom

USD/JPY: New 3-year low price

BTC/USD: Risk-off sentiment hammering Bitcoin

GBP/USD: Pound not in market’s focus

EUR/USD: USD generally very weak

The S&P 500 broke down on Friday to test the 2900 level.

The Euro has rallied again during the trading session on Friday, as we continue to see the juggernaut of this market in full effect.