Forex Daily Forecast, Analysis and Prediction

Bitcoin did gain just a bit during the training session on Thursday, but it was and lackluster trading.

Gold markets did very little during the trading session on Thursday as you would anticipate, mainly because we are awaiting the jobs figure.

The US dollar initially tried to rally during the trading session on Thursday but gave back the gains as there have been a lot of back and forth traders in the market.

After the USD/ZAR contracted into its support zone, bullish momentum started to recover and pushed this currency pair above the top range of its support zone.

Following the rejection in the EUR/AUD by its resistance zone as well as its ascending 61.8 Fibonacci Retracement Fan Retracement Level, more downside is likely to follow.

While the long-term fundamental outlook for the NZD/USD remains bullish, the current advance may be in for a pause before it can resume.

The recent EUR/USD correction attempts were capped by the move towards 1.1116 resistance and the closest to 1.1120 resistance, which gives it the opportunity to break the downtrend as seen on the provided daily chart.

Gold gains stalled around the $1484 resistance, before settling around $1477.

AUDUSD: Less bullish on poor Australian economic data

The catalysts for completing the GBP/USD bullish correction have increased with gains that hit the 1.3120 resistance, which has been at the highest level for almost seven months and is stable near that level at the time of writing.

The US dollar suffered a setback from the preliminary results of the new jobs in the U.S non-agricultural sector.

The Euro initially tried to rally during the day on Wednesday but ran into a buzz saw of resistance in the area just above the 1.11 handle again.

The Australian dollar pulled back a bit during the trading session on Wednesday, reaching down towards the 50 day EMA.

The S&P 500 recovered quite a bit during the trading session on Wednesday, after selling off drastically on Tuesday.

The US dollar has initially pulled back against the Japanese yen during the trading session on Wednesday but found enough support at the ¥108.50 level again to turn around and bounce.