Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate crude Oil market initially went back and forth during the trading session and then shot towards the top of the overall consolidation.

The US dollar initially tried to rally during the trading session on Friday but give back the gains in volatile trading after the Non-Farm Payroll announcement.

Natural gas markets have rolled over just a bit during the trading session on Friday, breaking below the $2.40 level.

USDJPY: Weakly bearish but key support close

The Australian dollar has initially tried to rally during the trading session on Friday but gave back the gains as the US job number came out much more resilient than anticipated.

Litecoin is facing a minor existential crisis after the hashrate crashed to a 2019 low, following price action in the LTC/USD to the downside after the 2019 halving event.

Bitcoin: Weakly bullish above $7,414

GBPUSD: Bullish above 1.3150

Gold markets initially tried to rally during the trading session on Friday but then got hammered after the jobs number came out much stronger than anticipated.

Friday’s unexpected strong NFP report out of the US boosted the US Dollar versus the Turkish Lira, but this move may be a short-term event.

Economic data released out of China showed a contraction in exports, confirming the global economic slowdown is ongoing; the rise in imports suggests a stronger domestic economy.

Following the release of Chinese trade data, German trade data showed a surprise increase in exports despite the disappointing industrial production data released.

EURUSD: Weakly bullish with 1.1068 pivotal

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