Monthly Forex Forecast

Bitcoin launched itself into the stratosphere during the month of February.

Calm Lower Price Realm as Correlations Questioned.

Confidence Eroding but Correlations Remains Evident.

USD/INR Currency Range is Stable and Speculatively Quiet.

Mid-Term Support Ratios a Factor for Speculators.

I do think that things are starting to line up for a very strong year.

The NASDAQ 100 has been shooting straight up in the air for quite some time.

The S&P 500 has a major issue with the fact that only 7 stocks make up roughly 38% of the gain.

The US dollar has rallied a bit during the trading month of January, as we are trying to form some type of double bottom.

The West Texas Intermediate Crude Oil market has been volatile during the month of January, but in the end looks as if there are buyers underneath willing to pick it up.

Price action in the USD/INR remains rather tight and this puts speculators of the currency pair in a rather challenging position as they try wagering on perspectives.

Traders of the USD/ZAR were ‘treated’ to another month of volatility within the currency pair, but as December progressed the South African Rand did correlate to other major currencies.

The EUR/USD finished 2023 trading with bullish momentum, but it was not without a fight and as January gets ready to start and perspectives likely remain positive.

Gold markets have spent most of the month of December being very volatile, but as we close out the year, it has become increasingly obvious that 2024 should be a very strong year for gold markets in general.

If you are the type of person that likes playing with fire, the NASDAQ 100 is for you.