Forex Daily Forecast, Analysis and Prediction

A 40% slump in oil prices sent oil stocks plummeting much to the disgust of investors who were used to the high returns from the monopolistic industry.

Industry experts believe that in order for Bitcoin to be become more accessible to the masses, it is imperative for tech entrepreneurs who are setting up Bitcoin-related companies or apps to understand the pros and cons of traditional currency.

Last week, the biggest event for the market was the release of the U.S. jobs report. Gold prices fell sharply on the last trading day of the week after the Labor Department reported that the economy added 321000 jobs in November, far surpassing consensus estimates of 231000, and the unemployment rate held at a six-year low of 5.8%.

Get the USD/CAD weekly Forex signal for December 8, 2014 here.

Check out the GBP/USD Forex signal for December 8, 2014 here.

Get the USD/JPY Forex signal for December 8, 2014 here.

Get the EUR/USD Forex signal for December 8, 2014 here.

The EUR/USD pair fell during the session on Friday, as the nonfarm payroll numbers came out better than anticipated. Because of that, more and more money flows back towards the United States, as the European Union continues to struggle.

The USD/CAD pair originally broke higher during the course of the day on Friday, but as you can see gave back most of the gains in order to form a shooting star.

The USD/JPY pair broke higher during the course of the day on Friday, smashing through the 120 level finally. This is a significant move, as it signals the next leg higher.

The US dollar broke higher against the Indian rupee during Friday trading, as we broke above the top of the hammer that had formed from Thursday.

The AUD/USD pair fell during the course of the day on Friday, as the nonfarm payroll numbers came out stronger than anticipated in the United States. With that, I feel that this market is ready to continue its next leg lower, possibly down to the 0.80 handle.

Although Japan is to a big player in the Bitcoin marketplace, being the first country to open its doors to Bitcoin entrepreneurs, the Japanese government is starting to be cautious and wanting to learn more about the crypto-currency, thanks to Mt. Gox filing for bankruptcy.

Sexism allegations forced The Coca-Cola Co (NYSE:KO)’s milk brand Fairlife to ditch its ad campaign following an uproar on social media.

Academic studies have shown that the most reliable way to determine future price movements from past price movements, is by use of momentum. Check out the weekly forecast for December 7, 2014 here.