Forex Daily Forecast, Analysis and Prediction

Gold markets have rallied to close out the week on Friday as we continue to trade in a channel.

The DAX has been quiet over the last week or so, as it is sitting on top of a couple of major moving averages.

The performance of the exchange rate of the euro currency pair against the US dollar, EUR/USD, remained in a neutral position last week.

There is no doubt that the sudden change in the policy of the Central Bank of Japan caused a devastating tsunami for other major currencies against the Japanese yen.

The price of the pound sterling overcame the decline against the euro, the US dollar, and other currencies before the holidays

Gold futures rose above the $1,800 psychological resistance ahead of the Christmas holidays, giving some cheer to the gold price outlook as 2023 approaches.

Traders who wish to embark on GBP/USD speculative wagers in the coming days should know they are entering potentially dangerous waters.

The EUR/USD delivered a solid trading range for speculators the past week, and this coming week could see more consolidated price action because of the holiday season.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

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 26th, 2022 here.

The USD/JPY has gone back and forth during a rather quiet trading on Thursday, as we continue to hang around the ¥132.50 level, an area that has previously been imported.

The USD/CHF has rallied rather significantly during trading on Thursday, after bouncing from the recent lows that we made against the Swiss franc.

The GBP/USD initially tried to rally during the trading session on Thursday but gave bank gain at the 200-Day EMA as it looks like the pair is starting to roll over again.

The EUR/GBP initially tried to rally during the trading session on Thursday but has run into a bit of a resistance barrier near the 0.88 level.