Forex Daily Forecast, Analysis and Prediction

Gold prices ended slightly higher Monday but the trading range was relatively tight as the U.S. markets were closed for a public holiday.

The Nikkei 225 fell initially on Friday but found enough support at the ¥19,000 region to turn around and form a hammer.

The EUR/USD pair fell from the 50-day exponential moving average on Friday, showing signs of exhaustion. The British pound fell during the day on Friday, testing the 1.24 level.

The S&P 500 markets will be closed on Monday due to the President's Day holiday. The NASDAQ 100 not only bounced during the day on Friday, but it also formed a fresh, new high.

The WTI Crude Oil market fell initially during the day on Friday, but turned around to form a bit of a hammer. The natural gas markets rallied on Friday, but gave back all the gains to form a shooting star.

The USD/JPY pair initially fell during the day on Friday, but found enough support at the 112.50 level to turn things around to form a hammer. The Australian dollar initially tried to rally on Friday but turned around to form a very negative candle.

Gold prices fell $4.14 on Friday, giving up most of the gains made in the previous session, and closed the week $1235.12 an ounce.

Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for the week of February 20, 2017.

There will be a slightly heavier news schedule this week, compared to last week which was very light.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of February 20, 2017.

Check out the Forex forecast focusing on some of the major currency pairs for the week of February 20, 2017 here.

Australian stocks initially fell during the day on Thursday, but found enough support to turn around and form a hammer.

The EUR/USD pair broke higher during the day on Thursday, touching the 50-day exponential moving average. The British pound rallied initially during the day on Thursday but continues to see quite a bit of resistance above the 1.25 handle.

The USD/JPY pair broke down during the day on Thursday, clearing the bottom of the shooting star from Wednesday.The Australian dollar broke higher during the course of the day on Thursday, but continues to find resistance near the 0.7750 level.

The WTI Crude Oil market fell initially during the day on Thursday, but found enough bullish pressure to turn around and show signs of strength. The natural gas markets extended losses during the day on Thursday, as we continue to breakdown.