Forex Daily Forecast, Analysis and Prediction

GBPUSD: Today’s pivotal point likely at 1.2833

EURUSD: Bearish over the medium term

The US dollar will continue to struggle against the Japanese yen going into the next several days, as the 61.8% Fibonacci retracement level has obviously been very resistive.

The S&P 500 continues to struggle at the 3100 level, as it is a large, round, psychologically significant figure that has been defended by those in the options market, as they will often go into the futures market to manipulate prices away from barriers that they are trying to defend.

The natural gas markets initially tried to rally during the day on Tuesday but found enough resistance near the gap just above, and that shows that there could be a significant amount of selling pressure just above.

The NASDAQ 100 has pulled back a bit during the trading session on Monday but found enough support underneath the turn around and broke higher.

The Euro continues to go back and forth overall, but Monday was a slightly positive session.

The British pound has rallied a bit during the trading session on Monday, breaking back above the 1.28 handle as traders continue to consolidate the British pound against the US dollar.

The Australian dollar has done nothing during the trading session on Monday, which isn’t much of a surprise as we continue to wait to see what the Americans are the Chinese are going to do.

The West Texas Intermediate Crude Oil markets have pulled back a bit during the trading session on Monday to kick off the week in direct response to the US/China trade relations not necessarily been a strong as thought last week.

The natural gas markets have gapped lower to kick off the week on Monday and have even broken down below the $2.65 level. At this point, the market is likely to continue going lower because it has closed towards the bottom of the range for the session.

The gold market has fallen a bit during the trading session on Monday, reaching towards the crucial $1450 level.

Bitcoin attempted to rally during the Monday session but found enough resistance at the 50 day EMA to rollover and form a week looking candle.

Following the brief spike higher which led to the 4th best daily gain in Bitcoin’s history, bearishness has returned

Over the course of last week's trading, the EUR/USD has been under downward pressure from a three-month high of 1.1175 resistance to 1.1016support, where it closed the week around.