Forex Daily Forecast, Analysis and Prediction

Following the brief spike higher which led to the 4th best daily gain in Bitcoin’s history, bearishness has returned

Over the course of last week's trading, the EUR/USD has been under downward pressure from a three-month high of 1.1175 resistance to 1.1016support, where it closed the week around.

The Pound was unable to withstand the strength of the US dollar, especially as the Bank of England abandoned the idea of ​​a near rate hike and two members voted to cut rates rather than expectations of financial markets to raise them.

NZDUSD: Unpredictable

Even as doubts about the prospects of a formal trade deal between the United States and China return after President Donald Trump said he did not agree to cut tariffs

AUDUSD: Ranging with a bullish tilt

USDJPY: More bullish above 109.10

The strength of the US dollar and risk appetite pushed the USD/JPY pair to the 109.47 resistance, its highest level in five months, and closed last week's trading around 109.22, near recent highs.

Bitcoin: Bearish below $8,711

An extended sell-off in the USD/SGD was bound to enter a brief reversal on the back of a short-covering rally.

Economic data out of Japan came in weaker than expected as machine orders posted an unexpected monthly contraction, but the Japanese Yen extended its advance

An IMF warning in regards to the European economy, echoed by ECB concerns about the lack of fiscal spending and the European Commission downgrade to the Eurozone economy,

USDCHF Analysis: Bullish breakout above 0.9943

GBPUSD: More bullish above 1.2800

EURUSD: Bottoming out at 1.1018