Forex Daily Forecast, Analysis and Prediction

The euro rallied significantly during the trading session on Monday to reach towards the 1.22 handle.

This is a market that has been consolidating for a while, perhaps trying to work off a bit of froth.

At this point, it looks very likely that the DAX will continue to find buyers on dips, just as it had on multiple times previously.

The NASDAQ 100 pulled back a bit during the trading session on Monday but then turned around to show signs of strength again.

The S&P 500 fluctuated during the session on Monday in very choppy and sideways trading, which is what we have seen for the last several weeks.

We did find a significant amount of exhaustion at the $70 level to turn things right back around and form a somewhat exhaustive candle.

The US dollar initially tried to rally during the trading session on Monday but gave back the gains to show signs of exhaustion yet again.

It is very likely that we will continue to see a lot of choppy and misdirected volatility.

The Australian dollar rallied on Monday to show signs of continuation of the sideways action.

The Bitcoin market initially tried to rally a bit during the trading session on Monday as the trading world got back to work.

The GBP/USD is holding steady near the highest level this year as investors reflect on the strong UK data and the upcoming US inflation data.

The BTC/USD price retreated sharply in the overnight session as traders continued to wait for the upcoming US inflation data.

The Aussie is holding up slightly better against the USD than other major currencies.

The dollar is beginning to gain some ground against the euro.

The USD/JPY has come off its recent highs, but it is certainly still within sight of the important 110.000 level, which may prove attractive to bullish speculators.