Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude market did rally a bit during the trading session on Monday to kick off the week but as you can see, we have a lot of noise just above that extends all the way to the $62.50 handle.

Bitcoin has fallen again during the trading session on Monday, to kick off the week.

Natural gas markets have rallied nicely during the Monday session to kick off the week, reaching above the $2.35 level.

Gold markets initially tried to rally during the trading session on Monday but as you can see gave back quite a bit of the gains.

Bitcoin is leading most of its peers to the downside, and Litecoin experienced another drop to the downside.

Yesterday’s PMI data out of the Eurozone showed the recession in the manufacturing as well as services sectors accelerated.

Upside potential in the NZD/JPY is exhausted, and this currency pair is now exposed to a corrective phase.

Dovish minutes released by the Reserve Bank of Australia highlighted concerns over weak wage growth and inflation targets.

Bitcoin: Bearish but pivotal point at $6,786

GBPUSD: Continuing to sell off from post-election high

EURUSD: Consolidation between 1.1110 and 1.1198

AUDUSD: Weakly bullish above 0.6862

USDJPY: Bullish above 109.50

In the beginning of this week’s trading, the Euro will react to the announcement of the purchasing managers' indicators for the industrial and services sectors, which are the most affected by the length of the global trade war.

The trade agreement between the two largest economies in the world and the end of the British elections in favor of the Conservative victory.