Forex Daily Forecast, Analysis and Prediction

The British pound went back and forth during the trading session on Monday, as we continue to test the 1.25 handle.

The Euro initially tried to rally during the trading session on Monday but has seen a lot of resistance at the 1.1150 level.

Panic-selling initially plunged this currency pair below the essential 0.60000 level before a massive price action reversal unfolded.

Silver markets fell hard during the trading session on Monday as we have broken down from the $15.00 level.

Gold markets have gone back and forth during the trading session on Monday, showing signs of noise.

The West Texas Intermediate Crude Oil market has broken through a major support level in the form of the psychologically important $20.00 level.

A strong setback for the US dollar against most other major currencies during last week's trading, influenced by the recent weak economic data and the massive financial stimulus of the US government worth 2 trillion dollars.

Despite the sharp decline in the US dollar with the formal signature and approval of the massive US stimulus plan.

The GBP/USD pair took advantage of the USD drop and moved towards the 1.2485 resistance.

Amid increasing volatility in the global financial markets and with the return of pressure on the US dollar after the approval of the huge and long-awaited US stimulus plan.

US Dollar weakness is anticipated to accelerate due to the massive oversupply of the currency by the Federal Reserve.

A global recession is now near-certain, but the UK economy is well-positioned to bridge the period to recovery with a limited increase in debt.

Economists fear a deep recession in New Zealand due to the nationwide lockdown in an attempt to prevent the Covid-19 pandemic from spreading.

Australia is rumored to announce the third stimulus as soon as this week.

AUD/USD: Pivotal point at 0.6123