Forex Daily Forecast, Analysis and Prediction

USD/CAD pulled back on Friday after profit-taking, but a breakout above 1.39, rising EMAs, and Canada’s economic weakness keep the bullish outlook intact.

Excellent operating margins, a decent dividend yield, and a promising outlook on data center electricity demand support more upside. Should you power up with Duke Energy?

A decreasing revenue growth rate, shareholder value destruction, and a sub-standard return on invested capital enforce the existing bearish trend. Is more downside ahead for Salesforce?

The NASDAQ 100 continues its bullish run, with a 25,000 target in focus while support near 24,000 may offer buy-the-dip opportunities.

Gold is consolidating near $3,800 after hitting its measured move, with support at $3,700 and potential to extend toward the $4,000 mark.

Silver is racing higher toward $46 with strong bullish momentum, as buyers defend $44 and $42 support levels while eyeing a longer-term move toward $50.

The Euro is bouncing from key support near its 50-day EMA, with 1.18 resistance in focus, while a drop below 1.16 risks a deeper bearish turn.

Crude oil is testing the $66 resistance zone, with bulls eyeing a move toward $70 while risks of a breakdown could drag prices back to $62.

AUD/USD slides to its lowest since early September, with traders eyeing the RBA’s rate decision and key US jobs data for the next major move.

GBP/USD trades near 1.3400 after forming a double-top at 1.3725, with upcoming US jobs data and Fed policy outlook set to drive the next move.

EUR/USD trades near 1.1700 with a bullish bias as Wall Street analysts see more upside, while upcoming US labor data may determine the next breakout.

Bitcoin has performed poorly over recent weeks, but in recent hours has risen from the bottom to break up past resistance levels. Yet this minor bullish move may have already run out of momentum.

Expectations have declined regarding the pace of US rate cuts, while fears of stagflation are again coming out, sending the US Dollar higher, but it is the stellar rise of precious metals to new record highs which really caught the eye last week.

The GBP/USD closed this past week of trading within lower depths around the 1.33985 mark as financial institutions have turned cautious again regarding their sentiment about USD political noise.

WTI Crude Oil went into this weekend with higher prices than it started last Monday’s opening, this as narrative seems to have caused some sentiment shifts for near-term conditions as traders wager.