Forex Daily Forecast, Analysis and Prediction

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.

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Ripple’s XRP token sales plunged by 80% in the fourth quarter of 2019 to the lowest amount in three years.

Following a lower low in the EUR/USD, the downtrend remains intact but technical developments suggest a short-covering rally is brewing.

Preliminary PMI data for January out of Australia showed an acceleration of recessionary data, with the services sector leading.

Fourth-quarter consumer prices in New Zealand rose more than anticipated, with the annualized CPI clocking in at 1.9%.

The US dollar has pulled back a bit during the trading session on Thursday against the Japanese yen, reaching down towards the 50 day EMA before bouncing.