Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 has had the Santa Claus rally, and now looks as if it is likely to pull back a bit as we head into the month of January.

The euro has been a great way to watch money get spent sideways for a while, and I suspect that the very beginning of January will be more of the same.

The US dollar has been drifting lower against the South African rand towards the end of the year.

The beginning of the month will probably be choppy to say the least, because there will be a lot of people out there trying to put money to work for the year.

The continued decline of the US dollar still supports gold bulls in moving higher.

The Japanese yen's decline continued this week, despite optimism about the world's third largest economy.

Healthy risk appetite and abandonment of the US dollar as a safe haven helped the GBP/USD settle upwards around the resistance level 1.3445 at the time of writing.

For five trading sessions in a row, the rebound gains for the EUR/USD stopped at the resistance level 1.1433, waiting for stronger catalysts to continue the rebound or return to the bearish trend.

The AUD/USD has continued to incrementally add value and it is testing short- and mid-term highs in the midst of the holiday season.

ETH/USD has fallen rather hard in the past day after failing to penetrate resistance levels above; now an important support level is being tested.

Bulls face potentially strong resistance at 0.7271.

The US dollar rallied again on Monday against the Japanese yen to go looking towards the ¥115 level.

Monday saw bullish pressure in the S&P 500 again, as we broke to an all-time high.

The NASDAQ 100 took off to the upside on Monday, as it looks like we are ready to continue going much higher.

The US dollar did very little over the last 24 hours against the Swiss franc, which should not be a huge surprise considering that we are between Christmas and New Year’s Day.