Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair tried but failed to breach the 104.00 resistance at the beginning of this week's traing, instead settling around 103.70 and losing enough momentum to reverse the general trend.

Sell-offs pushed the GBP/USD to stabilize around the 1.3634 level as of this writing, after upward momentum at the beginning of this week's trading pushed the pair to the resistance level at 1.3723.

Since the start of trading this week, the EUR/USD has been in a new descending correction range that settled around the 1.2128 level as of this writing.

The NASDAQ 100 initially plummeted during the early hours of New York trading, but then turned around to show massive amounts of bullish pressure.

The German Business Climate Index numbers came out during the trading session on Monday, a bit lighter than anticipated.

The euro initially fell during the trading session but continues to find plenty of support underneath, especially near the 50-day EMA.

The British pound initially tried to rally during the trading session on Monday but gave back the gains close to the 1.37 level yet again.

The S&P 500 fell rather hard during the trading session on Monday to test the 3800 level.

The US dollar fluctuated during the trading session on Monday, as it has been rather volatile in multiple markets.

Bitcoin markets have been all over the place during the trading session on Monday as it looks like we are looking to find direction.

Gold markets fluctuated during the course of the trading session on Monday to kick off the week, as we sit below the 50-day EMA still.

The Australian dollar has done very little during the trading session on Monday to kick off the week.

The West Texas Intermediate Crude Oil market has been somewhat quiet to kick off the week, essentially forming an inside candlestick from the perspective of the negative Friday candlestick.

Will the supportive trend line break down?

Bearish head & shoulders neckline at 1.3621 broken.