Forex Daily Forecast, Analysis and Prediction

Gold prices rose for a sixth consecutive session on Thursday, hitting the highest level since November 29, as the dollar’s weakness persisted.

The EUR/USD pair broke higher during the trading session on Thursday, clearing the 1.19 level.

The WTI Crude Oil market rallied a bit during the trading session on Thursday, testing the $60 level.

The US dollar broke down significantly during the trading session on Thursday, slicing below the 113 level.

The S&P 500 rallied slightly during the trading session on Thursday, using the 2675 level as a bit of a floor.

It seems that the yellow metal is trying to close the last trading of 2017 higher, as the gold prices achieved gains pushing the price toward 1280 an ounce

For the 4th day in a row, the USD/JPY is moving in tight ranges trying to avoid dropping below support at 113.00 to avoid more bearish pressure.

For the third day in a row, the GBP/JPY fails in settling on top of the resistance at 152, and it seems clear on the GBP/JPY chart that the pair is moving in tight ranges

There is an increase of risk appetite among investors despite thin liquidity in the markets due to holiday season, however, the EUR/JPY succeeded in testing a new record

Weak upward bounce for the GBP/USD, which is the lowest gainer with a retreat of the US dollar, as gains didn’t go beyond 1.3429

The EUR/USD moved again through the resistant at 1.1900 with continued pressure at the greenback, as the US Index tested the 92.96 DXY level

Gold prices ended Wednesday’s session up $4.34 an ounce, supported by a lower U.S. dollar index.

The euro rallied again during the trading session on Wednesday, breaking towards the 1.19 level.

The WTI Crude Oil market fell a bit during the trading session on Wednesday, but obviously on very low volume.

The US dollar did almost nothing against the Japanese yen during the trading session on Wednesday, as most people are away from the currency markets.