We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.

You can learn more about our cookie policyhere, or by following the link at the bottom of any page on our site.

Note: Low and High figures are for the trading day.

Note: Low and High figures are for the trading day.

Note: Low and High figures are for the trading day.

Note: Low and High figures are for the trading day.

Note: Low and High figures are for the trading day.

Note: Low and High figures are for the trading day.

What are some of the Fed 2020 FOMC voting changes we are likely to see? Find out from @JMcQueenFX here:

$AUD and S&P/ASX 200 stock index price action warns that investors are pining for RBA rate cuts amid worries about weakness in the local economy. Get your market update from @IlyaSpivak here:

The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. $USDINR may rise in the medium-term as the RBI defers hiking rates. Get your market update from @ddubrovskyFX here:

The $JPY may resume a five-year rise against the New Zealand Dollar if prices make good on a Head-and-Shoulders pattern, pushing NZD/JPY toward 70.00. Get your market update from @IlyaSpivak here:

The $SGD has more room to give before its strength against the US Dollar is at risk. Key resistance is maintaining the medium-term USD/MYR downtrend for now. Get your market update from @ddubrovskyFX here:

Here is my trading video for the week ahead: Dow Record, Oil Retreat and $AUDUSD Trend Intent Top My Watchlist

The Euro has broken the bounds of Decembers upswing, exposing three-month trend support. Clearing that may set the stage for a drop toward the 1.07 figure. Get your market update from @IlyaSpivak here:

So much for the downside breakout in $AUDJPY, another great example of how important confirmation is when looking at technical analysis AUD JPY technicalanalysis

The $AUD has been battered by kneejerk volatility on US-Iran geopolitical risks. AUD/USD and AUD/JPY may extend their losses on positioning and technical signals.Get your market update from @ddubrovskyFX here:

$USDCHF Daily Pivot Points: S3: 0.9656 S2: 0.9693 S1: 0.9711 R1: 0.9748 R2: 0.9767 R3: 0.9804

Bitcoin Price Forecast 2020: BTC/USD Lacks Bullish Sentiment, For Now

Despite falling roughly $6,000 from its June peak,Bitcoin

Nearly devoid of bullish sentiment in the second half of the year, BTC/USDwill round out 2019 with a yearly return of about 90%

With that in mind, it may be worth holding some of the cryptocurrency in 2020 in the event bullish sentiment returns, although the nearer-term outlook remains in question

Bitcoin Price Forecast 2020: BTC/USD Lacks Bullish Sentiment, For Now

Bitcoin was one of the best performing assets in 2019, enjoying an incredible rally in the first half of the year which saw it rocket past assets classes like equities, traditional currencies and commodities. On pace for a 90% return in 2019, Bitcoin once again displayed its uncanny ability an ability which has drawn criticism from some to undergo wild price swings. Consequently, Bitcoin may deserve a spot in your investment portfolio in 2020 as a sort of x-factor investment given it fits within your risk tolerance and broader strategy.

To be sure, the shorter-term outlook for Bitcoin remains unencouraging. Slipping more than $6,000 or about 170% – since its June peak, BTC/USD has fallen beneath a series of trendlines and support levels that have left its current valuation difficult to defend. Clinging to support around the $7,000-mark, Bitcoin bulls and optimists have offered a series of rescue efforts that have kept price afloat, but bearishness persists, and fundamental drivers appear few and far between.

Previously enjoying a boost fromcurrency-crises and economic uncertainty in emerging markets, many issues in at-risk economies have receded which has seen Bitcoins negative correlation with emerging market currencies weaken and left the digital asset without a main fundamental driver. Further still, cryptocurrency volume has fallen broadly as the asset-class falls out of the spotlight in more developed markets. Consequently, a broader downtrend has emerged and undermined the gains established on the back of currency woes in South Africa, China, Argentina, Turkey and other emerging economies.

With that in mind, Bitcoin may continue to falter in 2020 especially given the weakened state of technicals at the coins disposal. Still, the price history of Bitcoin and the nature of the asset make it an intriguing option for portfolio allocation in the new year. While offering the potential for outsized gains of 2 or 3-fold, Bitcoin could also arguably serve as a hedge against investments in emerging markets currencies or equities if a crisis emerges.

Still, the unpredictability and volatility of Bitcoin make it an undoubtedly risky investment and there is potential for the current downtrend to persist indefinitely as cryptocurrencies find their role in the investment world. Therefore, any allocation should be kept to a minimum in my opinion, but enough to grant exposure to the explosiveness of the asset class. In the meantime, follow@PeterHanksFXon Twitter for updates and analysis on shorter-term price movements in the largest cryptocurrency by market capitalization.

Contact and follow Peter on Twitter@PeterHanksFX

Read more:How to Invest During a Recession: Investments & Strategy

DailyFXprovides forex news and technical analysis on the trends that influence the global currency markets.

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

FX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID 0517400). Registered Address: 32 Old Slip, Suite 803; New York, NY 10005.