Forex Daily Forecast, Analysis and Prediction

Prior to the holidays, which weaken liquidity in the markets, and with investors risk avoidance until the markets return to normal conditions.

While the long-term fundamental outlook for gold remains extremely bullish, traders should expect a short-term pull-back over the holiday-shortened trading week.

The strength of the US dollar this time did not prevent gold prices from holding onto its gains around the $1482 resistance at the time of writing.

Following the sharp sell-off in the British Pound, after the announcement that an extension of the Brexit transition period past December 31st 2020 will be illegal

On the daily and four hours charts of the USD/JPY pair, it is clear that a bullish flag is forming and there is stability of the performance for several sessions, which foreshadows a strong movement coming in either direction.

Bitcoin: More bullish but weekly resistance below $8,000

GBPUSD: Finally bottoming above 1.2972?

EURUSD: Strong resistance likely at 1.1110

Germany continues to resist calls by the European Central Bank to increase fiscal spending.

Commentary out of the US and China over the weekend attempted to strike a positive tone regarding the phase-one trade truce.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of December 23, 2019.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of December 23, 2019 here.

Enjoy the few trading days this week with our forecast for major currency pairs here.

Bitcoin is in recovery mode after dropping below 6,400, but the bearish trend remains intact, and more downside is expected to follow.

The Euro rallied a bit during the trading session on Thursday but continues to find trouble near the 200 day EMA.