Forex Daily Forecast, Analysis and Prediction

Tensions between the US and Iran at the start of 2020 allowed gold to spike above the psychological $1,600 level for the first time since the end of the first quarter in 2013.

AUDUSD: Bearish channel threatens 0.6870

Bitcoin: Still bullish above $8,552

GBPUSD: Bearish

EURUSD: Weakly bearish below 1.1110

The Euro has broken down a bit during the trading session on Friday, reaching towards the 50 day EMA.

The Euro pulled back a bit against the British pound initially during the day on Friday but then turned around to form a bit of a hammer.

The Australian dollar has gone back and forth during the trading session on Friday but ended up forming a negative candlestick as we continue to dance around the 200 day EMA

The US dollar went back and forth during the trading session on Friday as we had broken above the ¥110 level, but still are simply sitting around

The British pound shows signs of choppiness going into the Monday session after the Friday retail sales figures were so soft.

Gold markets have rallied a bit during the trading session on Friday, reaching towards the $1560 level.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of January 20, 2019.

The difference between success and failure in Forex trading is very likely to depend upon which currency pairs you choose to trade each week.

Get the weekly Forex forecast for major currency pairs for the week of January 20, 2020 here.

While the long-term outlook for this currency pair remains bearish, it is likely to be interrupted by smaller counter-trend moves.