Forex Daily Forecast, Analysis and Prediction

Risk appetite has remained steady in Asia and the USD/SGD has continued to produce a bearish trend which has vanquished short term support levels.

Indonesia crossed the 100,000 Covid-19 infection mark as Southeast Asia’s largest economy continues to struggle with the virus.

MAPFRE Economics, in its latest study, predicts the Brazilian economy to contract between 8.9% and 9.8% in 2020.

GBP/USD: British Pound seen stronger

EUR/USD: New 18-month high price again yesterday

The Euro has rallied significantly during the trading session again on Monday, breaking above the 1.17 level.

The Australian dollar has rallied significantly during the trading session on Monday, breaking above the 0.71 handle, and reaching towards the highs again.

The S&P 500 initially pulled back a bit during the trading session on Monday but then bounced off of the 20 day EMA to show signs of support again.

The US dollar fell significantly during the trading session on Monday to kick off the week and threatened the crucial ¥105 level.

The NASDAQ 100 initially fell during the trading session on Monday but found buyers underneath at the 10,400 level to turn things around and rally again.

The British pound rallied significantly during the trading session on Monday, breaking towards the 1.29 level.

The West Texas Intermediate Crude Oil market continues to grind sideways during the trading session on Monday as it simply has nowhere to be.

Gold markets have had a strong session on Monday, breaking towards the $1945 level before pulling back just a bit.

Silver markets have shot straight up in the air again during the trading session on Monday, reaching towards the $25 level.

The US dollar has initially dipped a little bit against the Indian rupee on Monday to kick off the week, but we continue to see a lot of the same back-and-forth action that we have over the last couple of weeks.