Forex Daily Forecast, Analysis and Prediction

Gold markets went back and forth on Friday, showing signs of exhaustion after the massive bullish candlestick that we formed on Thursday.

The Australian dollar initially fell on Friday but then turned around to show signs of strength again in what has been a somewhat repeating pattern.

Bitcoin rallied significantly on Friday to show extreme strength again, as we find ourselves testing the $48,000 level.

The British pound initially fell a bit on Friday but then turned around to show signs of strength as interest rates in the United States started to fall again.

The euro recovered a bit on Friday, but after we have seen this massive amount of selling pressure, it is very unlikely that it is the beginning of a change in attitude.

$1.3577 is looking very likely to be today’s pivotal point.

The EUR/USD pair was little changed in early trading as investors continued to reflect on the recent Eurozone consumer inflation data.

The AUD/USD pair held steady ahead of a relatively busy week in the financial market.

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The Bitcoin market has rallied during the trading session on Thursday to go looking towards the 50 day EMA.

The German index has gone back and forth during the course of the trading session on Thursday as we continue to test the major trendline underneath.

The FTSE 100 has rallied a bit during the course of the trading session on Thursday but gave back gains to reach back towards the 50 day EMA.

The S&P 500 sits right at a major uptrend line, and even though we did initially tried to rally during the day, we have given back most of the gains.