Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market rallied significantly to reach towards the 200-day EMA.

The Ethereum market was all over the place throughout the weekend, as it sold off just like Bitcoin did.

The Bitcoin market broke down significantly over the last couple of days, crashing all the way to the 200-day EMA which is closer to the $47,000 level.

The Australian dollar bounced a bit on Monday to kick off the week on the right foot.

The price still looks likely to break down below consolidating triangle pattern.

The AUD/USD price tilted higher on Tuesday morning as the market reflected on the latest interest rate decision by the Reserve Bank of Australia (RBA).

The EUR/USD pair wavered on Tuesday morning as worries of the Omicron variant waned and as the market waited for the latest Eurozone GDP data.

The BTC/USD pair bounced back in the overnight session as market sentiment improved.

ETH/USD suffered a swift decline in value this weekend which correlated to the broad cryptocurrency market and is now near important short-term support.

BTC/USD has stumbled rather dramatically from the 59,100.00 price it was trading on the 1st of December and this weekend’s flash crash has created more tension.

Gold futures remained stable at the end of trading last week, even with the turmoil in global financial markets.

Immediately after the US jobs report, the USD/JPY fell to the 112.55 support level, and as the markets absorbed the results, the pair returned to settle around 113.05 as of this writing.

The GBP/USD gained a short-lived respite from prior selling pressure on Friday when the Bureau of Labor Statistics released what can only be described as the “downbeat” US non-farm payrolls report for November.

The assessment of the new Omicron variant continues to strongly affect investor sentiment and global financial markets so far.

The price is heading downwards from the resistance level at $49,710.