Forex Daily Forecast, Analysis and Prediction

The natural order of things is that eventually what goes up must come down.

Turkey’s economy is in full recovery mode. The central bank lowered interest rates once again by 50 basis points to 10.75%.

Bitcoin rallied slightly during the trading session on Friday, showing signs of life again at the $9500 level.

AUD/USD: Breakdown towards 0.6500 looks likely

Natural gas markets initially fell during the trading session on Friday, reaching down towards the gap that had formed at the beginning of the week.

West Texas Intermediate Crude Oil markets fell initially during the trading session on Friday but found support near the $52.50 level to bounce a bit.

USD/JPY: Bullish breakout collapsing

BTC/USD: Pivotal point remains at $9,518

The Australian dollar went back and forth during the trading session on Friday, initially dipping lower but turning around to form a bit of a hammer which is a slightly bullish sign.

The US dollar has pulled back a bit against the Japanese yen during the trading session on Friday, as we reached the ¥112.30 level.

The Euro has exploded to the upside during the trading session on Friday, as there has been a significant amount of short covering going into the weekend.

The British pound rallied a bit into the weekend, showing signs of resiliency.

The S&P 500 has pulled back a bit during the trading session on Friday, breaking below the bottom of the hammer candlestick that had formed on Thursday.

Gold markets rallied significantly heading into the weekend, as Friday had seen the market test the $1650 level.

While last week’s PMI data out of the Eurozone indicated a rebound, it came of depressed levels.