Forex Daily Forecast, Analysis and Prediction

The US dollar and Japanese yen have been engaged in a back-and-forth battle around the ¥142 level in recent trading sessions.

The S&P 500 index exhibited a back-and-forth pattern in Friday's trading session as traders grappled with the question of whether the upward momentum could be sustained.

Natural gas markets have experienced another upward move during the recent trading sessions, hinting at the potential for further gains.

The crude oil markets underwent a period of tight range trading on Friday, as they continued to probe the upper bounds of their consolidation zones.

In the currency markets, the Australian dollar has been very bullish recently.

But strong support at $40,623.

The GBP/USD price retreated after a quite eventful week in the UK and the UK.

The EUR/USD price continued its freefall on Monday morning as investors assessed the implications of last week’s European Central Bank (ECB) and Federal Reserve decisions.

The AUD/USD price bull run stalled after Federal Reserve officials warned that it was too early to speculate on rate cuts.

The US Dollar and stocks rose last week, while the Japanese Yen led the Forex market higher.

After testing the 68.000 USD mark on Wednesday last week, WTI Crude Oil suddenly saw buying increase and the commodity finished Friday above the 72.000 USD via its cash price.

Day traders and financial institutions were treated to strong upwards momentum last week from the GBP/USD as its higher price range was tested and now must be considered.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of December 17th, 2023 here.

The S&P 500 had a small rally during Thursday's trading session, and it seems like the loose monetary policy of the Federal Reserve will continue to be a major factor.