Check out this week's Forex Forecast : forextrading technicalanalysis forex FX
a long trade in Silver against the US Dollar following a daily close above $24.15 and in the EUR/USD currency pair following a daily close higher than the two previous daily closes. A short trade in the USD/JPY currency pair was also attractive following a daily close below131.56. The Silver trade did not set up, but the EUR/USD gave an entry at $1.0634, with the price ending the week at $1.0699, a gain of 0.61%. The USD/JPY currency pair ended the week lower by 1.24%.
, which gave a major boost to the Yen and put Yen futures shorts at their lowest level since August, and the continuing bearish trend in the US Dollar. There were no important data releases last week in the market, due to the Christmas holiday observed in many major markets. Global stock markets ended the week mostly unchanged, or a little lower. The Forex market again saw most strength in the Japanese Yen last week, with the US Dollar the weakest major currency.
Rates of coronavirus infection worldwide again fell slightly last week according to official data. However, there are credible reports suggesting millions of new infections after China’s “zero covid” measures were recently scrapped. The most significant growths in new confirmed coronavirus cases overall right now are happening in China, Japan, Peru, and Taiwan.
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