Forex Daily Forecast, Analysis and Prediction

Natural gas markets have gapped higher to kick off the trading session on Tuesday as the selloff on Monday was a bit overdone.

GBPUSD: Bearish retracement on narrowing British opinion polls

The gold markets rallied a bit during the trading session on Tuesday but have given back quite a bit of the gains.

Bitcoin markets have drifted a little bit lower during the trading session on Tuesday, showing signs that we are ready to continue to go much lower.

EURUSD: Consolidating below 1.1113

Following the release of the New Zealand half-year fiscal and economic update, the New Zealand Dollar came under selling pressure.

Consumer confidence decreased in Australia as the holiday shopping season started, but the AUD/SGD was able to recover.

We did not witness any strong movement for the EUR/USD in the beginning of this week’s trading, as the pair moved in a narrow range from yesterday between 1.1053 and 1.1077, before settling around 1.1065 at the time of writing.

AUDUSD: Support around 0.6800 threatens to break down

USDJPY: Ranging between 108.25 and 109.00

After the recent collapse gold prices to the $1458 level after the announcement of better-than-expected US jobs numbers by the end of last week, prices have been moving in a narrow, limited and stable range around $1463 at the time of writing, awaiting any developments.

Cautious wait-and-see mode characterizes GBP/USD price performance in recent trading sessions, while maintaining the upward momentum and indifference to important economic releases.

Bitcoin: Congested and confusing

The Japanese Yen is still the strongest according to the recent performance of the USD/JPY pair, even with the announcement of stronger US jobs results than expected for the month of November.

The British pound has rallied a bit during the trading session on Monday, only to give back about half the gains.