Forex Daily Forecast, Analysis and Prediction

Having demonstrated the ability to stage a large bearish cycle from late June into last Thursday and achieving a low of nearly 1.30035, the USD/SGD has reversed higher.

Weak risk-off sentiment in the market is producing bearish pressure on this currency pair, but the support level at $1.3109 looks likely to be pivotal today.

This asset looks as if it is still stuck in the consolidation move.

It’s easy to see that this asset has plenty of support as we initially fell to kick off the Monday trading session, only to turn around and show buyers again.

It’s easy to see that this asset is in a major uptrend.

This asset is clearly drifting toward a major support level.

The euro has spiked against the Swiss franc during the early hours on Monday.

The EUR/USD pair remained under pressure as concerns about the European economy continued.

Bitcoin price continued its recent consolidation as the crypto industry continued to underperform the broader market.

The AUD/USD exchange rate wavered at an important resistance point after the relatively mixed economic numbers from Australia and China.

Gold was overbought in the summer of 2024, its fundamental drivers were not performing well or really favorable, and the AI ​​stock bubble continued to distract investors.

For four consecutive trading sessions, the US dollar against the Japanese yen USD/JPY is trying to rebound higher, but its gains did not exceed the 146.25 level.

The Turkish Lira gained slightly in Asian trading on Monday morning, stabilizing above the 34-lira level.

As trading begins this week, there will be a US holiday that will weaken investor sentiment and market liquidity.

The EUR/USD exchange rate was on sale after the Eurozone inflation rate came in line with expectations and the unemployment rate in the region unexpectedly fell, but the rise is likely to remain limited.