Forex Daily Forecast, Analysis and Prediction

It seems clear on the GBP/JPY chart that the pair is moving in tight ranges with a slight bullish bias awaiting stronger catalysts.

The EUR/JPY gains halted around 134.88, the highest level for the pair since 2015.

For the fifth consecutive day, the GBP/USD is ranging between 1.3330 and the resistance at 1.3420.

In the start of this week’s trading, and after the holiday break, the EUR/USD advanced towards the resistance at 1.1873.

The EUR/USD pair initially fell during the trading session on Friday, but turned around to form a hammer.

The WTI Crude Oil market fell slightly during the session on Friday, but turned around to form a hammer yet again.

The US dollar initially tried to rally during the Friday session, but turned back around to form and exhaustive candle.

The S&P 500 did very little during the trading session on Friday, as we have gotten a bit overextended.

Gold prices settled at $1275.29 per ounce, rising nearly 1.6% over the course of the week, as renewed political unrest in Europe and weakness in the U.S. dollar boosted the precious metal’s safe-haven appeal.

he British pound has rallied against the Swiss franc for the last several months, but it looks as if we are running into serious trouble at the 1.35 handle above.

The US dollar has been reasonably positive against the Japanese yen over the last several months, and it looks likely that we will continue to see buyers underneath.

The New Zealand dollar has bounced recently from the vital 0.68 handle, and as I write this, testing the vital 0.70 level above.

Gold markets have been a bit difficult over the last couple of months, but as you can see I have drawn a nice uptrend line that has offered support of the last couple of weeks.

The EUR/USD pair has been volatile over the course of the last 6 months or so, but the one thing that you cannot deny is that we’ve seen a lot of bullish pressure.

The Australian dollar has been rather choppy over the course of the last year.