Forex Daily Forecast, Analysis and Prediction

Despite the recent bounce attempts by gold prices, which reached during last week's trading to the $1475 level, in a correction attempt after the price hit the $1446 support,

Investors' risk appetite weakened recently, supporting the USD/JPY drop to 108.23 support, but succeeded in closing the week around 108.80 resistance.

NZDUSD: Bulls losing momentum

AUDUSD: Weakly bullish above 0.6822

USDJPY: Ranging environment

Bitcoin: Wide bearish price channel persists

Over the weekend, the cryptocurrency market was faced with record low volume for 2019, led once again by Bitcoin which continues to pressure the entire sector to the downside.

As the risk-on mood is temporarily decreasing demand for safe-haven assets like gold and the Swiss Franc, more upside is expected in the CAD/CHF after the breakout

Selling pressure on the EUR/NZD has eased as the bullish impact of the surprise Reserve Bank of New Zealand’s decision to keep interest rates unchanged at 1.00% is fading.

Despite numerous attempts by officials to show markets that the US and China are in the final process of finalizing their phase one trade truce, fundamental differences remain

USDCAD: Weakly bearish below 1.3212

USDCHF Analysis: Today’s pivotal point at 0.9915

GBPUSD: Bullish above 1.2897

EURUSD: Weakly bullish above 1.1056

The West Texas Intermediate Crude Oil market initially dipped on Friday but found enough buyers underneath yet again to turn around and rally.