Forex Daily Forecast, Analysis and Prediction

The Australian dollar tried to rally during the trading session on Tuesday, but then rolled over to form a bit of a shooting star

The NASDAQ 100 has gone back and forth during the trading session on Tuesday, showing signs of exhaustion and although the market had looked rather strong initially

The Euro broke down significantly during the trading session on Thursday, as the ISM Non-Manufacturing PMI figures have been much better than anticipated.

USDCAD: Bearish flag pattern dominates

As the risk-on mood is showing signs of fatigue, the Japanese Yen could see a slow inflow of capital from risk averse traders.

Volatility in the Canadian Dollar increase after the Bank of Canada opened the door to a possible interest rate cut, but bond markets in the US suggests that pressure on interest rates may be to the upside.

USDCHF Analysis: Strong resistance likely at 0.9945

GBPUSD: Consolidating below 1.2924

EURUSD: Today’s pivotal point likely to be 1.1063

Australian economic data was mixed, Chinese data came in a touch softer and overall global data showed that the economy remains fragile at best.

The US dollar has rebounded against the other major currencies for three trading sessions in a row, and the USD/JPY price rises from the 107.88 support to the 108.82 resistance at the time of writing

The US dollar returned to rise after better results from the US jobs report, and increased investor risk appetite with reassuring remarks from both sides of the global trade war that the deal was near.

The future of the Pound will depend on the next general election on December 12, as UK citizens will have an opportunity to make a decisive judgment on how Britain will exit from the EU.

After three unsuccessful attempts to break above the 1.1175 resistance, it was normal for the EUR/USD to correct down towards the 1.1127 support.

NZDUSD: Weakly bullish above 0.6386