Forex Daily Forecast, Analysis and Prediction

In early trading this morning the USD/ZAR has come off highs produced when the day began.

The British pound closed the week higher against the euro and the US dollar, supported by news that the UK economy rebounded in November.

The euro weakened against the pound and the dollar at the end of last week, after ECB President Christine Lagarde signalled that the central bank could cut interest rates.

Last Friday, Gold futures recorded their biggest single-session gain since mid-December, driven by concerns over wider-ranging tensions in the Middle East.

Trading last week was mostly bullish for the performance of the USD/JPY, where it surged towards the resistance level of 146.41.

The Dow Jones Industrial Average pulled back rather significantly later in the day after initially rallying due to a weaker than anticipated PPI number.

Gold markets showed significant strength on Friday, responding to weaker-than-expected PPI numbers, contrasting the previous day's CPI data which was slightly stronger.

The AUD/USD price was flat on Monday morning, in which will be a muted day without any major economic data and with the US markets being closed.

The GBP/USD exchange rate remained in a tight range after last week’s positive UK GDP and US inflation numbers.

The S&P 500 displayed a back-and-forth pattern, with the 4800 level proving to be a significant resistance point.

Silver experienced a notable uptick in its price during the Friday trading session following the release of the Producers Price Index (PPI) figures in the United States.

Bitcoin price suffered a harsh reversal after the Securities and Exchange Commission (SEC) approved eleven spot ETFs.

The Euro's performance in the trading session remained relatively subdued despite some volatility.

In Friday's trading session, Bitcoin exhibited a back-and-forth movement, indicating uncertainty in the market.

My previous EUR/USD signal on 8th January produced a profitable long trade from the near pin bar which made a bullish rejection of the support at $1.0930 on the hourly time frame.