Forex Daily Forecast, Analysis and Prediction

Since the 19th of October, the USD/SGD has produced a significant trading range, which when looked at via a one-month chart, looks like a bouncing ball.

The first signs of possible support are at 0.7475.

The euro rallied significantly on Monday, breaking back above the 1.16 level.

The British pound fell a bit on Monday to test the 1.3650 level.

The US dollar rallied significantly against the South African rand during the trading session on Monday as we continue to see emerging market currencies get crushed.

The NASDAQ 100 initially dipped just a bit on Monday, but then turned around to show signs of life again.

The US dollar drifted a little bit lower against the Canadian dollar on Monday as we continue to see the crude oil markets trying to break out to fresh, new highs again.

The Bitcoin market pulled back a bit on Monday only to test the $60,000 level.

Gold markets rallied quite nicely on Monday to reach towards the 200-day EMA.

The S&P 500 went gone back and forth on Monday as we continue to hover near the all-time highs.

Silver markets initially dipped on Monday but found enough support below near the 50-day EMA to send the market back to the upside.

The West Texas Intermediate Crude Oil market rallied a bit on Monday, trying to take out the $85 level, an area that would attract a certain amount of psychological attention.

The BTC/USD price moved sideways as October’s spectacular rally took a breather.

The GBP/USD pair remained under pressure even after the relatively positive UK manufacturing output data.

The EUR/USD crawled back in the overnight session as investors reflected on the relatively weak German retail sales data and American strong Manufacturing PMI numbers.