Forex Daily Forecast, Analysis and Prediction

The British pound initially fell during the trading session on Monday as the week started off rather soft.

The Australian dollar gapped a bit lower during the open on Monday, but then turned around to fill the gap.

The West Texas Intermediate Crude Oil market gapped lower to kick off the trading session on Monday, breaking down below the $52.50 level almost immediately.

Natural gas markets fell again during the day on Monday, initially gapping lower, turning around to rally a bit, and then breaking back down.

Gold markets gapped higher to kick off the trading session on Monday, as fear of the coronavirus spreading to larger masses continues to cause major issues.

The Bitcoin market initially tried to rally during the trading session on Monday, but as you can see failed at the $10,000 level yet again.

The US dollar remains the best performing currency compared to other major currencies.

Larger and continuous losses caused by the Corona virus (Covid-19) = new historical and record gains for gold.

The gains of the US dollar stopped, giving the GBP/USD price only the opportunity to correct towards the 1.2980 level during last Friday's trading session, and its recent gains were capped around the 1.2848 support.

At the end of last week’s trading, the price of the EUR/USD pair got a new long awaited momentum for the upward correction supporting gains to the 1.0863 level before closing the week's trading around the 1.0847 level.

The natural order of things is that eventually what goes up must come down.

Turkey’s economy is in full recovery mode. The central bank lowered interest rates once again by 50 basis points to 10.75%.

Bitcoin rallied slightly during the trading session on Friday, showing signs of life again at the $9500 level.

AUD/USD: Breakdown towards 0.6500 looks likely

Natural gas markets initially fell during the trading session on Friday, reaching down towards the gap that had formed at the beginning of the week.