Forex Daily Forecast, Analysis and Prediction

Volatility is anticipated to increase after traders return from their Christmas holiday break and start their 2020.

Selling pressure in the GBP/SGD faded after this currency pair descended into its support zone.

AUDUSD: Weakly bullish but resistance at 0.6940

After price action descended into its short-term support zone, the corrective phase in the EUR/JPY temporarily paused.

With the Fibonacci Retracement Fan closing the gap to the support zone, and the AUD/NZD caught in between, pressures for either a breakout or breakdown are on the rise.

The West Texas Intermediate Crude Oil market has rallied significantly during Christmas Eve, showing signs of extraordinarily bullish pressure again.

USDJPY: More bullish above 109.52 but resistance up to 110.00

Bitcoin: Bearish consolidation below $7,260

The S&P 500 has done very little on Christmas Eve, but quite frankly that should not be a huge surprise.

GBPUSD: Still Bearish below 1.2972

EURUSD: Weakly bearish below 1.1096

Natural gas markets initially tried to recover from the gap lower on Tuesday, and even broke above the top of the gap but fell apart and sliced through the $2.20 level.

The NASDAQ 100 has done almost nothing during the Christmas Eve session as expected, because quite frankly most people won’t be bothered trading the E-mini contract.

Gold markets have exploded to the upside during the trading session on Tuesday as traders continue to take advantage of the massive breakout.

The US dollar did very little on Tuesday, which in and of itself wasn’t a major story considering that it was Christmas Eve, but looking at the longer-term chart you can see that we continue to see a lot of issues.