Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied a bit during the day on Monday, to continue the move that we had seen on Friday

USDJPY: Bulls pushing to test 109.00 again

Bitcoin: Consolidation above $8,893 continues

While US equity markets are at all-time highs, the US Dollar is under selling pressure as forex traders react to the negative economic news at a time equity traders take it as a bullish sign.

Following the election of a new Speaker of the House of Commons in the UK, uncertainty about next month’s snap election as well as Brexit remained elevated; it took four ballots to get the new speaker elected.

Risk-on mood has swept across global financial markets with US equity markets at all time highs despite a continuing string of economic disappointments and red flags which appear under the surface

Economic data out of Australia and China showed that the slowdown has accelerated as the Reserve Bank of Australia kept interest rates unchanged as expected

USDCAD: Level at 1.3120 looks pivotal again

USDCHF Analysis: More bullish above 0.9900

GBPUSD: Weakly bearish below 1.2924

EURUSD: Today’s pivotal point likely to be 1.1131

Relative calm has returned to the cryptocurrency market following a strong rally induced by Bitcoin.

With the beginning of the week's trading, the European single currency, Euro, is up for an important date with the first official remarks by new ECB Governor Christine Lagarde

Mixed results from the official jobs report may support the continuation of the bullish correction for the GBP/USD this week as well

For three consecutive trading sessions, the price of gold moved up to the $1516 resistance, taking advantage of the pressure on the US dollar, which is inversely moving with the yellow metal.