Forex Daily Forecast, Analysis and Prediction

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.

The FTSE 100 went back and forth as we slammed into the 7200 level.

The CAC fell a bit on Friday, pulling back from the 50-day EMA as we continue to consolidate just above a major consolidation of support.

Gold markets rallied significantly on Friday as traders reacted to the jobs number being weaker than anticipated.

The S&P 500 plunged on Friday after the jobs number came in much lower than anticipated.

The NASDAQ 100 plunged lower during the Friday session as the jobs number came out.

The US dollar initially fell on Friday, but after crude oil markets turned around, we ended up forming an exactly inverse candlestick of what we had seen in the WTI grade market.

The West Texas Intermediate Crude Oil market initially rallied on Friday, reaching as high as $69.12 before turning around.

The Bitcoin market pulled back a bit on Friday as we continue to see more “risk off” behavior around the world.

The British pound fell a bit on Friday as we continue to see plenty of downward momentum.

The euro initially fell on Friday, but the jobs number came out much lower than anticipated, sending the US dollar falling.