Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rose on Tuesday, but then gave back the gains rather quickly.

The German DAX Index had a very strong session on Tuesday, reaching towards the €16,000 level.

The CAC 40 rallied again on Tuesday to reach all-time highs.

The EUR/USD pair retreated slightly as US equities continued their Santa Claus rally.

The BTC/USD suffered a harsh reversal after rising in the past few days.

The AUD/USD pair retreated slightly on Wednesday morning amid low volumes.

I believe that most of January is going to be about buying dips.

The NASDAQ 100 has had the Santa Claus rally, and now looks as if it is likely to pull back a bit as we head into the month of January.

The euro has been a great way to watch money get spent sideways for a while, and I suspect that the very beginning of January will be more of the same.

The US dollar has been drifting lower against the South African rand towards the end of the year.

The beginning of the month will probably be choppy to say the least, because there will be a lot of people out there trying to put money to work for the year.

The continued decline of the US dollar still supports gold bulls in moving higher.

The Japanese yen's decline continued this week, despite optimism about the world's third largest economy.

Healthy risk appetite and abandonment of the US dollar as a safe haven helped the GBP/USD settle upwards around the resistance level 1.3445 at the time of writing.

For five trading sessions in a row, the rebound gains for the EUR/USD stopped at the resistance level 1.1433, waiting for stronger catalysts to continue the rebound or return to the bearish trend.