Forex Daily Forecast, Analysis and Prediction

Despite recent gains of the GBP/JPY, reaching towards 152.82, the highest in one month, the bullish bounce still needs stimulates to confirm the strength of the bullish trend

The USD/JPY will depend today on the details of the latest meeting for the Fed Reserve to stop the losses which took the pair to the support level at 112.05.

The Gold prices recorded gains reached to $1321 an ounce during the morning trading on Wednesday, before it bounced quickly to $1312 an ounce at the time of writing

Gains for the EUR/JPY stopped around the resistance level at 135.60 awaiting stronger stimulates to continue the bullish move which took this pair to its highest levels

The EUR/USD is settling on top of the psychologically important resistance level at 1.2000 before the release of the minutes of the latest Federal Reserve meeting

Over 5 trading sessions in a row, the gains of yesterday’s session were the strongest, as this pair moved strongly to the resistance level at 1.3600, the highest in 3 months

Gold prices rose $9.84 on Tuesday as the dollar continued to fall on the first trading day of the new year.

The EUR/USD pair gapped higher at the open on Tuesday, slicing through the 1.20 level as traders have returned from the holidays.

Bitcoin initially fell during the trading session on Tuesday, but found enough support at the $13,000 level to rally significantly, gaining almost 13%

The US dollar fell significantly during the trading session on Tuesday, reaching down to the 112 level.

The S&P 500 had a positive start to the year, as we reached towards the 2690 handle.

The WTI Crude Oil market initially gapped higher at the open during the trading session on Tuesday, but then pulled back significantly towards the $60 handle.

With gold prices moving above the psychological peak level at $1300 an ounce at the last 2017 trades on last Friday, it helped the yellow metal maintaining the upward

It is clear on the daily chart for the USD/JPY, the start of a new bullish break, as the pair has moved towards the support at 112.50.

During the end trading of 2017, the GBP/USD achieved stronger gains pushing the pair to the resistance at 1.3544 level, before it settled around 1.3500.