Forex Daily Forecast, Analysis and Prediction

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.

The West Texas Intermediate Crude Oil market initially fell during Monday trading as we got reports from OPEC that they were cutting 500,000 barrels per day.

Natural gas markets gapped lowered to kick off this session on Monday as some whether reports are calling for warmer temperatures in the month of December.

The S&P 500 is pulling back at this point but it’s very likely that it will continue to find buyers underneath.

NASDAQ 100 traders sold off initially during the trading session on Monday, but at this point it hasn’t been much of a sellout.