Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair had a bearish start to the week, retreating to the 1.2053 support level and stabilizing around 1.2080 as of this writing, ahead of the important German ZEW Index readings.

The euro initially fell during the trading session on Monday, but has recovered quite nicely as there does not seem to be a huge push to break it down in the short term.

The S&P 500 futures markets gapped to kick off the week to the downside, but then turned around to show signs of life again.

The NASDAQ 100 did very little during the trading session on Monday, as it was Martin Luther King, Jr. Day in the United States.

The Bitcoin market fluctuated during the course of the trading session on Monday, as we have no idea what to do with ourselves.

The British pound fell initially during the trading session to reach down towards the 1.35 handle.

Bulls and bears remain evenly matched.

The US dollar initially tried to rally against the Brazilian real, but found enough resistance just above the 50-day EMA to turn things back around and fall.

The US dollar rallied initially during the trading session on Monday, but gave back some of the gains to form a shooting star-shaped candlestick.

Gold markets pulled back a bit during relatively thin trading on Monday due to the Martin Luther King, Jr. holiday.

The Australian dollar fell a bit during the trading session on Monday but still continues to see a lot of upward pressure in general.

The West Texas Intermediate Crude Oil market gapped a bit lower to kick off the trading week on Monday, but as it was Martin Luther King, Jr. Day in the United States, there was a serious lack of volume.

The pound is fading into the background.

The EUR/USD pared-back some of the earlier losses ahead of the important Eurozone inflation data and the European Central Bank (ECB) interest rate decision.

The Bitcoin price is in consolidation as traders focus on the next move after the currency reached an all-time high last week.