Forex Daily Forecast, Analysis and Prediction

Natural gas markets have initially fallen during the trading session on Tuesday but found support at the $1.80 level yet again.

The German DAX futures reached as low as €13,000 over the last couple of days but have recovered quite nicely during trading on Tuesday.

The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday but gave back the gains as it rolled over to show signs of exhaustion again.

Gold markets fell during the session on Tuesday as more of a “risk off” scenario has overtaken the markets, pushing money out of safe haven assets.

Economic data released out of New Zealand this morning showed a contraction in the unemployment rate mixed with weak hourly earnings for the fourth quarter of 2019.

For two trading sessions in a row, the EUR/USD price attempted to correct higher, but gains did not exceed the 1.1095 resistance, then the correction returned lower, reaching the 1.1034 level in the beginning of this week’s trading.

I certainly expected that the gains of the British pound following the monetary policy decisions of the Bank of England and the joy of Brexit will not last long, and indeed the price of the GBP/USD pair move based on those factors to the 1.3209 resistance during last Friday's trading session.

The recent and intensified measures by the Chinese government and the Chinese Central Bank to contain the situation and support the Chinese economy from collapsing due to the horrific losses for the spread of Corona virus in the country, especially with the resumption of the Chinese stock markets after a very long holiday.

The USD/JPY price losses stopped at the limits of the 108.30 support and failed to complete the downward correction for two trading sessions,.

The British pound has fallen pretty hard after Boris Johnson suggested that he was willing to walk away from the European Union negotiations without a deal.

The Euro fell significantly during the trading session on Monday, reaching down below the 1.1040 level.

AUD/USD: Very pivotal point at 0.6677

BTC/USD: Weakly bullish above support at $9,141

USD/JPY: Resistance at 109.24 in focus again

The NASDAQ 100 has rallied quite nicely during the trading session on Monday as traders came back to work but having said that it’s likely that we continue to struggle in general.