Forex Daily Forecast, Analysis and Prediction

The US dollar has been very choppy on Monday, as rates continue to dance around important levels in the USA.

Copper finds itself in consolidation as the closure of the Straight of Hormuz will influence the supply offered.

Gold continues to defend the same area on Monday, as the $4600 level is one that has a lot of “market memory” attached to it.

Silver continues to chop around, as we are now testing the 50-day EMA.

The Nasdaq 100 has been positive on Monday, as we continue to move to the whims of Middle East headlines and interest rates in the United States more than anything else.

The US dollar continues to test an important resistance level against the Franc, as we are dancing around the 0.80 level, and area that will attract attention.

The Australian dollar was positive early on Monday, as we continue to see the markets react to interest rates more than anything else at the moment.

Bitcoin rallied on Monday again, despite the fact that there are massive issues in the financial markets at the moment, something that tells me there is real interest in Bitcoin at the moment.

The British pound rallied against the yen on Monday, as the interest rate differential continues to be a major driver.

The GBP/USD exchange rate wavered near its lowest level since December last year as geopolitical tensions rose. It was trading at 1.3240 on Tuesday, down sharply from the year-to-date high of 1.3865.

The EUR/USD exchange rate has remained inside a narrow range in the past few weeks as the Iranian war continued. It was trading at 1.1545 on Tuesday as traders waited for Donald Trump's deadline on bombing Iran's critical infrastructure.

The AUD/USD exchange rate remained in a narrow range on Tuesday after some key economic numbers from Australia. It rose to 0.6920, up slightly from this month's low of 0.6830.

The British pound tried to rally against the Japanese yen on Friday, in what would be thin trading. Risk appetite will continue to be a major factor.

The US dollar continues to climb against its southern neighbor, but as the interest rate differential is so wide, I am waiting for “good news” to short.

The Canadian dollar remains very choppy against the Franc but looks very supported in general.