Forex Daily Forecast, Analysis and Prediction

Bitcoin has provided speculative traders worldwide a source of talking points, and as February approaches, the debate will rage on.

ETH/USD is set to begin February’s trading with a raging battle as short-term optimism is confronted by mid-term results and perspective.

As of this writing, we are seeing the S&P 500 try to stabilize itself near the 50-week EMA and/or the 4200 level.

The NASDAQ 100 has spent most of the month of January falling apart, which makes sense considering that the higher interest rates tend to bring down valuations in highflying stocks.

Before going into the last weekend before the month of February, gold displayed a sudden and violent amount of price action, probably wiping out some trading positions.

WTI Crude Oil appears ready to begin February trading with a two-month upwards trend firmly established, as a variety of concerns help fuel bullish sentiment.

The US dollar rallied from the 50-week EMA against the Indian rupee in January and has seen strength against almost all currencies.

The US dollar saw a resurgence during the month of January, as inflationary pressures are forcing the Federal Reserve to tighten monetary policy.

The euro fell apart during the last week of January, the finale to what had been a very noisy and choppy sideways market.

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The British pound has broken down rather significantly on Thursday as we continue to see a lot of US dollar strength based upon “risk off” trading in general.

The Euro has broken down rather significantly during the course of the trading session on Thursday as we continue to see a lot of negativity out there.

The German index went back and forth on Thursday as we continue to see a lot of concerns and misunderstanding about risk appetite at the moment.