Forex Daily Forecast, Analysis and Prediction

Gold markets rallied rather significantly during the trading session on Friday, cranking above the $1550 level before stalling out at the end of the day.

USDJPY: Bearish on risk-off sentiment

Bitcoin: Bullish above $7,477

Safe-haven assets are being led higher by gold after the US stirred up tensions in the Middle East to start the new decade.

Tensions in the Middle East are likely to intensify after the US killed a top Iranian general in Iraq.

After this currency pair was able to eclipse its support zone, bullish momentum faded as a result of the US killing attack on Iraqi soil to kill a top Iranian general.

Hong Kong protests continue, but fatigue has set in. The harm to the local economy appears to be easing, as evident by the latest PMI reports.

GBPUSD: Ranging between 1.3057 and 1.3110

EURUSD: Ranging between 1.1123 and 1.1183

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of January 6, 2019.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of January 6, 2019 here.

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The US dollar has been all over the place against the Japanese yen during trading on Thursday, dipping below the 200 day EMA at one point.

The Euro has initially tried to rally during the trading session on Thursday but then broke down below the 1.12 handle.

The British pound has pulled back significantly during the trading session on Thursday, reaching down below the 1.3150 level.