Forex Daily Forecast, Analysis and Prediction

At the end of last week's trading, the USD/JPY was subjected to selling, starting from the resistance level of 156.75, the highest for the currency pair in three months, with losses extending to the level of 153.86.

The US Federal Reserve's affirmation of not rushing to cut interest rates, coupled with Trump's election victory, has extended the US dollar's gains.

The British Pound's resilience against the strong US Dollar has not lasted long. Over the past six trading sessions, the GBP/USD has been subjected to selling, starting from the resistance level of 1.3008.

At the beginning of this week, the gold price is attempting to rebound to recoup its sharp losses from last week, which reached a support level of $2536 per ounce, the lowest for the gold price index in two months.

The USD/MXN is within the lower elements of its one week trend, but remains within the higher part of one month technical consideration, opening the door for a variety of speculative perspectives.

The Euro has rallied a bit against the New Zealand dollar during the early hours on Friday, and it looks like we are going to try to make a move to the 1.8050 level, an area that's been important more than once.

Gold markets have been back and forth in a fairly quiet session on Friday as it looks like we are trying to stabilize after a significant pullback.

The Dow Jones Industrial Average fell a bit during the course of the trading session on Friday as it looks like we are trying to get down to the 43,350 level.

The New Zealand dollar has been pretty sideways during the trading session on Friday against the Swiss franc as we are trying to sort out where to go next.

The British pound initially did try to rally during the trading session on Friday but gave back gains as it looks like we continue to struggle overall.

The USD/ZAR is trading in a higher price range as nervous financial institutions continue to show a high degree of anxious thinking regarding mid-term outlook while the new U.S leadership is considered.

Dear my daily analysis of the yen related pairs, it’s worth noting that the euro initially did try to rally, but then it plunged.

The US dollar has gapped to the downside during the early hours on Friday, only to turn around and rally, before giving up those gains again.

During my daily analysis of the NZD/USD pair, it looks as if we are threatening a major breakdown.

During my daily analysis of the AUD/USD pair, it’s obvious that the market has seen a lot of negative pressure when it comes to the AUD/USD pair, which of course is a measure of risk appetite, so it all comes together quite nicely.