Forex Daily Forecast, Analysis and Prediction

The US dollar initially tried to rally against the Norwegian krone on Friday, only to turn around and show signs of weakness.

The GBP/USD pair continued rising as the US dollar index retreat accelerated.

We are now below the 200-Day EMA, and therefore it’s likely that we will continue to see a little bit of negativity.

The EUR/USD pair continued its uptrend even after strong US retail sales and initial jobless claims numbers.

Bitcoin price drifted upwards during the weekend as the recent consolidation phase continued.

We continue to hang around the crucial 200-Day EMA, which of course is an indicator that a lot of people will pay close attention to.

The AUD/USD exchange rate continued its strong rally even as key Australian commodities continued falling.

We are most certainly threatening the crucial $2500 level now, and it’s likely that we do eventually break above there.

The British pound has fallen a bit during the early hours, and the ¥190 level seems to be offering quite a bit of support.

Perhaps the EUR/USD exchange rate will be perceived to have gained too much strength by some economists who question the positive momentum of the currency pair as the E.U still faces tough challenges with its economy.

CFD traders of WTI Crude Oil should pay strict attention to the market as it opens early on Monday.

Last week saw a recovery in risky assets, notably including stock market indices and Gold, following the release of unexpectedly low US inflation data, supported by falling inflation in other countries.

Check out this week’s key pairs: EUR/USD varies, NASDAQ 100 aims for 20,500, Silver targets $31, DAX recovers, WTI remains stable, USD/JPY meets resistance.

In my daily analysis of the EUR/USD pair, it’s obvious that we have plunged quite drastically after breaking above the 1.10 level during the previous session.

The German index has shown quite a bit of upward momentum during the trading session on Thursday, as we have broken above the 50-Day EMA, and before that even broke above the €18,000 level.