Forex Daily Forecast, Analysis and Prediction

Bitcoin markets drifted a bit lower during the New Year’s Eve trading session, as we continue to juggle just below the $7250 level.

The British pound has rallied nicely during the trading session on New Year’s Eve, breaking above the resistance at the 1.32 handle before getting a bit more sluggish near the 1.3250 level.

Litecoin has suffered together with other major cryptocurrencies and saw its hashrate contract to 2019 lows, followed by price action.

Ripple, or more precisely the Ripple token, joined Ethereum in a disastrous 2019 from a price action perspective.

Ethereum is suffering from an increasingly bearish fundamental scenario, supported by technical conditions.

Bitcoin is positioned to extend its bearish chart pattern after price action was rejected by its short-term resistance zone.

The weakening of the US dollar and the renewed global trade and geopolitical tensions were catalysts for the USD/JPY pair to correct lower towards the 108.62 support.

Renewed anxiety in the markets and investors ’escape from risk in the final hours of 2019 trading.

The overwhelming conservative victory in the early general elections in Britain made them more powerful and fierce in dealing internally and externally.

For the third consecutive day, the EUR/USD pair continues to benefit from the weakening of the dollar and moves through the 1.1200 psychological resistance.

AUDUSD: Strongly bullish

USDJPY: Bearish below 108.77

Bitcoin: Bearish head & shoulders would complete below $7,000

Brexit is thirty days away, but the UK will remain under EU rules and regulations until the transition period is concluded on December 31st 2020.

The West Texas Intermediate Crude Oil market went back and forth during the trading session on Monday, showing signs of exhaustion at the $62.50 level,