Forex Daily Forecast, Analysis and Prediction

The S&P 500 has rallied again during the day on Monday, starting with the Globex session as Asians and European Union traders were jumping on risk appetite.

The Australian dollar has rallied a bit during the trading session on Monday as traders came back to work, using the 0.70 level underneath as support.

The Euro initially tried to rally during the trading session on Monday but gave back some of the gains towards the top of the range as the price looks to be a little bit gun shy when it comes to the 1.17 level.

The British pound shot straight up in the air during the trading session on Monday,

The West Texas Intermediate Crude Oil market continues to do very little as far as a range is concerned, as we have been dancing around the $40 level.

Silver markets have initially fallen during the trading session on Monday, only to turn around and rally a bit.

GBP/USD: Relatively high volatility

Gold markets have initially dipped during the trading session on Monday but found enough buyers underneath the turn things around and show signs of life.

EUR/USD: Resistance at 1.1688 looks pivotal

The USD/INR has produced a solid mid-term bearish trend, but the past week of trading has seen consolidated movement and a breakout higher.

Technical traders have been challenged by a wide range within the USD/SGD the past five days.

Mexico failed to contain the first wave of Covid-19 infections, while many countries witness a surge in new confirmed cases.

Switzerland remains more resilient to the Covid-19 pandemic than other economies in Europe

he downward momentum is still dominating the EUR/USD performance at the beginning of an important week as markets await US job numbers.

GBP/USD performance may continue to witness a state of volatility and instability amid the continuation of the recent downward pressure.