Forex Daily Forecast, Analysis and Prediction

Major Asian markets remain closed for various holidays, draining volume from this morning’s trading session.

EUR/USD: Resistance at 1.1039 looks pivotal

The US dollar has initially tried to rally during the trading session on Friday but then turned around to reach towards the 50 day EMA, which of course is a crucial technical indicator.

The S&P 500 has initially tried to rally during the trading session on Friday but gave back the gains in order to show signs of exhaustion.

The NASDAQ 100 has broken down after initially trying to rally on Friday, showing the 9250 level to be far too resistive.

The Euro initially tried to rally during the trading session on Friday but gave back the gains to reach towards the 1.10 level.

The British pound initially tried to rally during the trading session on Friday, breaking above the highs of the hammer from the previous session.

The Australian dollar rallied initially during the trading session on Friday, but then broke down significantly to reach towards the downtrend line that we are so aware of.

The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Friday, slicing through the $55 level.

Natural gas markets have fallen again during the trading session on Friday to end a miserable week yet again.

The gold markets pulled back just a bit during the trading session on Friday, but then shot higher as we continue to see a lot of bullish pressure in general.

Cotton markets have fallen during the trading session on Friday, breaking below the $70 level.

Bitcoin markets have been rather positive as of late but have also pulled back the last couple of days.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of January 27, 2020.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of January 27, 2020 here.