Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 has rallied a bit during the trading session on Friday again, as we are broken above the 8300 level.

Gold markets have pulled back just a bit during the trading session on Friday, as we continue to bounce back and forth.

The US dollar fell again during the day on Friday, as we continue to grind lower against the South African Rand.

The NASDAQ 100 has gone back and forth during the trading session on Monday to kick off the week, but at this point it looks very difficult to continue going higher as we are at the top of the longer term uptrend channel.

The Euro rallied during the trading session on Friday, reaching above the 50 day EMA in a sign of strength.

The US dollar has rallied during the trading session on Friday due to comments coming out of the mouth of Larry Kudlow suggesting that the Americans and the Chinese were getting closer to a deal again.

The British pound has been rallying during the trading session on Friday, continue in the same pattern that we have seen for some time.

The Australian dollar has rallied a bit during the trading session on Friday, wiping out quite a bit of the losses from the Thursday session.

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Gold has been under extreme selling pressure as traders rotated out of this safe-haven asset and moved into riskier ones.

Following the strong rally in this currency pair at the end of October, price action quickly corrected and the sell-off featured a price gap to the downside.

The Euro initially fell a bit during the trading session on Thursday, breaking below the 1.10 level before rallying significantly and reaching towards the 50 day EMA.

The S&P 500 has done absolutely nothing over the last week, as we continue to see the 3100 level offer significant resistance.