Forex Daily Forecast, Analysis and Prediction

The Australian dollar has been weak since markets opened this week.

The West Texas Intermediate Crude Oil market rallied yet again on Friday to gain 2.2%.

The euro initially tried to rally on Friday but ran into resistance at the same spot that we did during the Thursday session that ended up forming a shooting star.

The British pound initially tried to rally on Friday but gave back gains right around the same area where we had pulled back during the Thursday session.

The NASDAQ 100 rallied quite significantly on Friday after initially plunging.

The S&P 500 fell a bit on Friday, but it must be stated that we found a bit of support at the 4600 level.

The Ethereum market pulled back significantly on Friday to reach down towards the 200-day EMA.

Dogecoin saw a huge influx of volume on Friday to break much higher.

Gold got hammered on Friday as we had initially tried to rally during the day, but it looks as if we are struggling to break out of a significant consolidation area.

The Bitcoin market fell a bit on Friday before turning around and forming a bit of a hammer.

The German DAX Index fell a bit on Friday to reach down towards the €15,850 level.

The GBP/USD pair attempted to make a comeback on Monday as concerns about the Boris Johnson administration remained.

The EUR/USD pair retreated slightly on Friday after the US published relatively weak retail sales numbers.

The BTC/USD pair moved sideways during the weekend as investors attempted to buy the dip following last week’s major crash.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of January 17, 2022.