Forex Daily Forecast, Analysis and Prediction

BNBB/USD has produced a rather tight range the past week, but short-term highs were tested earlier today which then saw a slight reversal lower.

The bulls are seeking to hold the $53K area.

The pair is seeing a continuation of a medium-term consolidation pattern between 1.3800 and 1.4000.

ETH/USD continues to trade within a rather tight range and impatient speculators may be growing anxious.

The pair dropped to 1.1866 in early trading.

The AUD/USD is under pressure in early trading as the market reacts to the recent meeting between the US and Chinese representatives in Alaska and the falling oil prices.

Bitcoin markets initially pulled back during the trading session on Friday but then shot higher as markets continue to look at cryptocurrencies as a way to get away from fiat currencies.

The Australian dollar initially fell during the trading session on Friday but then found support near the 50-day EMA to turn things around and form a slightly supportive candlestick.

The market is still very sluggish and does not look very strong, due to the fact that the yields in America continue to throw it around.

We have been in a downtrend in this market for quite some time, and it certainly looks as if we may continue to see this.

It looks as if the market is going to continue to see a lot of volatility, and the oil market has been overbought for some time.

The S&P 500 fell during most of the trading session on Friday but also turned around by the end of the session.

NASDAQ 100 traders were somewhat stabilizing during the trading session on Friday as we saw a hammer form heading into the “quad witching” hour.

The euro continues to go back and forth overall, as we are hanging around at the 1.19 level.

We have turned around to form a rather bullish candle by the end of the day, so at this point I think we are going to continue to see quite a bit of resiliency.