Forex Daily Forecast, Analysis and Prediction

The German index has broken down a bit, only to find buyers near the 15,800 level, an area that presents significant resistance and potential support.

The S&P 500 fell initially during the trading session on Monday to reach towards the 4420 level, only to turn around and form a bit of a hammer.

The NASDAQ 100 fell rather hard on Monday but found plenty of support underneath to turn things around and form a massive hammer.

Ethereum has seen a strong run higher as we are switching over to a “proof of stake” format.

The West Texas Intermediate Crude Oil market initially gapped lower on Monday, as we continue to see a lot of volatility in the energy space.

Gold markets initially pulled back on Monday a bit but have found buyers jumping back in to push ever so higher.

The market continues to be short-term focus more than anything else and will be very noisy.

Bitcoin fell a little bit during the course of the trading session on Monday to reach down towards the $46,000 level.

The EUR/USD pair declined to 1.1770, which was slightly lower than Friday’s high of 1.1805.

The AUD/USD price retreated slightly in early trading after the release of the relatively weak Reserve Bank of Australia (RBA) minutes.

The GBP/USD came under intense pressure in the overnight session as the market waited for the upcoming economic data from the UK.

The BTC/USD price retreated in the overnight session as the strong recovery took a breather.

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The NZD/USD continues to push slightly higher and resistance levels appear vulnerable as the one-month trend shows bullish momentum.

The USD/ZAR remains within the upper realms of its long-term technical charts as trading conditions remain choppy.