Forex Daily Forecast, Analysis and Prediction

Bitcoin: Weakly bullish above $7,414

GBPUSD: Bullish above 1.3150

Gold markets initially tried to rally during the trading session on Friday but then got hammered after the jobs number came out much stronger than anticipated.

Friday’s unexpected strong NFP report out of the US boosted the US Dollar versus the Turkish Lira, but this move may be a short-term event.

Economic data released out of China showed a contraction in exports, confirming the global economic slowdown is ongoing; the rise in imports suggests a stronger domestic economy.

Following the release of Chinese trade data, German trade data showed a surprise increase in exports despite the disappointing industrial production data released.

EURUSD: Weakly bullish with 1.1068 pivotal

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The British pound has had a productive week, breaking towards the upside quite significantly, slicing above the top of the overall consolidation that we had been in for a couple of months.

Global uncertainty is on the rise; ranging from the UK election next week and the impact it may have on Brexit, to the stalled US-China phase-one trade deal and fresh tariffs

The natural gas markets initially tried to rally a bit during the trading session on Thursday but pulled back to show signs of concern with the jobs figure coming out on Friday.

The Euro rallied a bit during the trading session on Thursday, but it still did not break above the top of the shooting star from Wednesday.

The NASDAQ 100 has rallied slightly during the trading session on Thursday, as we await the jobs figure on Friday.

The British pound has had a strong trading session during the day on Thursday, as we await the jobs figures out of the United States.