Forex Daily Forecast, Analysis and Prediction

This coming week of trading will start with the EUR/USD near the 1.05840 ratio having accomplished another incremental climb via technical charts.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

West Texas Intermediate Crude Oil went into the weekend near a value of 74.59, which was a stronger close than the previous Friday when the commodity was around 71.67 at the end of the day.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of December 18th, 2022 here.

The West Texas Intermediate Crude Oil market has pulled back just a bit during the trading session on Thursday, to test the crucial $75 level.

The AUD/USD has had a very rough Thursday session as we have found the market plunging down to the previous uptrend line of the overall channel.

Gold markets have fallen rather hard during the day on Thursday as the US dollar has had a strong session.

The EUR/USD rallied during a large portion of the day on Thursday after the ECB raised interest rates by 50 basis points.

The GBP/USD has fallen rather hard during the trading session on Thursday after the Bank of England raised interest rates by 50 basis points, but more importantly, did not do it in a unanimous fashion.

The AUD/JPY has fallen during the trading session on Thursday, as we continue to see a lot of noisy behavior.

The S&P 500 gapped lower to kick off the trading session on Thursday, and it didn’t bother looking back.

The NZD/USD has broken significantly lower during the trading session on Thursday, as we have seen risk appetite get eviscerated. Ultimately, the market is likely to get looking to the 200-Day EMA, which is closer to the 0.6250 level.

The NASDAQ 100 has gotten absolutely hammered on Thursday, dropping almost 4% by the time the afternoon came.

The EUR/JPY has rallied rather significantly during the trading session on Thursday, breaking a major downtrend line as we continue to see a lot of noisy behavior.