Forex Daily Forecast, Analysis and Prediction

The Bitcoin market rallied initially on Monday, but then turned around to show signs of weakness.

The EUR/USD pair tilted upwards on Tuesday morning even as concerns about the Omicron variant remained.

The BTC/USD pair is in a tight range as demand for Bitcoin and other cryptocurrencies wane.

The GBP/USD pair was in a tight range as investors assess the rising number of Covid-19 cases in the UK and the US.

Although the global central banks decided to tighten their monetary policies, including those who actually raised interest rates, appetite for safe havens increased amid global fears of the Omicron variant which threatens a global closure on Christmas.

The US Federal Reserve’s indications about the future of tightening its policy contributed to strong gains for the dollar pairs.

The Bank of England surprised global financial markets and investors by raising interest rates, and the pound gained strong momentum against the other major currencies.

The euro could not keep the gains from the European Central Bank’s announcement that it would begin to tighten monetary policy in the footsteps of other global central banks.

ETH/USD continues to face headwinds as important support levels are coming into sight and conditions in the cryptocurrency market shows more nervousness.

The USD/ZAR has been able to reverse off highs achieved last week and is approaching intriguing support ratios; this may get the attention of speculative buyers.

The euro fell again on Friday and even closed at the very low of the range.

The British pound initially tried to rally on Friday but fell rather significantly to wipe out the candlestick from the previous session.

The DAX Index fell on Friday to reach down just below the €15,400 level.

The S&P 500 fell a bit on Friday but found enough support at the 50-day EMA in order to cause a little bit of a bounce.

The NASDAQ 100 initially fell on Friday but turned around to show signs of life again.