Forex Daily Forecast, Analysis and Prediction

The Euro tried to rally during the trading session on Friday but has rolled over after the initial surge post nonfarm payroll.

The NASDAQ 100 rallied again during the trading session on Friday in somewhat of a subdued manner, but at this point it’s obvious that we have broken out of a major consolidation phase and that should continue to attract people to the market.

The Australian dollar has rallied quite significantly during the trading session again on Friday, slicing through the 50 day EMA.

The S&P 500 rallied again during the day on Friday as we continue to see strength in the market after the jobs number has been released.

The US dollar has gone back and forth during the trading session on Friday against the Japanese yen as the jobs number came out slightly lower than anticipated.

The British pound has pulled back a bit during the trading session on Friday, sitting on the 50 day EMA.

USDCAD: Bearish head & shoulders on weekly chart

Natural gas markets initially pulled back during the trading session on Friday but found enough support at the $2.40 level to turn around and rally towards the $2.50 level.

USDCHF Analysis: Consolidation likely

The Bitcoin market continues to be very choppy and sideways, but at this point we initially tried to rally during the day on Friday but has given back some of the gains later in the day.

The West Texas Intermediate Crude Oil market initially fell during the trading session on Friday, reaching down to the $55 level early in the day.

GBPUSD: More bearish below 1.2250

EURUSD: Bearish below 1.1020 / 1.1000

Gold markets went back and forth during the trading session on Friday, showing signs of exhaustion as we have possibly gone too far into short-term of a timeframe.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of September 8, 2019.