Forex Daily Forecast, Analysis and Prediction

Speculators have plenty of evidence that technically the USD/ZAR has enjoyed a serious bearish trend mid-term and is testing important support levels.

During last week’s trading, we noticed a strong struggle between bulls and bears in determining the path for the EUR/USD pair, which closed the week’s trading around the 1.2112 level.

Concern over a difficult Brexit future added to pressure on the pound’s direction against the rest of major currencies.

After six trading sessions in a row, the price of gold corrected upwards.

For several trading sessions in a row, and in a process that extended for more than a month, the USD/JPY price has been moving under downward pressure.

The USD/PKR has enjoyed a rather solid bearish trend since late summer.

Bulls threatening all-time high again.

Renewed Brexit talks boost European currencies.

The West Texas Intermediate Crude Oil market pulled back during the trading session on Friday as we headed into the weekend.

The US dollar fell a bit during the trading session on Friday to break down below the ¥104 level, but we have recovered that level yet again.

The Australian dollar initially shot higher during the trading session on Friday as we continue to see a move to the upside.

The NASDAQ 100 fell a bit during the trading session on Friday as traders continue to worry about stimulus coming out the United States.

The S&P 500 initially fell during most of the trading session on Friday, but as the rest of the world left the trading to the Americans on their own, they started buying up everything and turned things around to form a hammer.

Silver markets fell initially during the trading session on Friday, reaching down towards the $23.50 level, but turned around to show signs of support again.

The gold market initially fell during the trading session on Friday to reach down towards the 200-day EMA yet again.