Forex Daily Forecast, Analysis and Prediction

GBP/USD: Pound is less weak than most risky currencies

Bitcoin lost its bullish momentum after completing a breakdown below its resistance zone.

Brexit is five days away, but the UK will remain under EU rules until the end of the transition period.

Commodity demand is depressed as a result of constant new threats to the slowing global economy, like the spreading of a deadly string of coronavirus

Major Asian markets remain closed for various holidays, draining volume from this morning’s trading session.

EUR/USD: Resistance at 1.1039 looks pivotal

The US dollar has initially tried to rally during the trading session on Friday but then turned around to reach towards the 50 day EMA, which of course is a crucial technical indicator.

The S&P 500 has initially tried to rally during the trading session on Friday but gave back the gains in order to show signs of exhaustion.

The NASDAQ 100 has broken down after initially trying to rally on Friday, showing the 9250 level to be far too resistive.

The Euro initially tried to rally during the trading session on Friday but gave back the gains to reach towards the 1.10 level.

The British pound initially tried to rally during the trading session on Friday, breaking above the highs of the hammer from the previous session.

The Australian dollar rallied initially during the trading session on Friday, but then broke down significantly to reach towards the downtrend line that we are so aware of.

The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Friday, slicing through the $55 level.

Natural gas markets have fallen again during the trading session on Friday to end a miserable week yet again.

The gold markets pulled back just a bit during the trading session on Friday, but then shot higher as we continue to see a lot of bullish pressure in general.