Forex Daily Forecast, Analysis and Prediction

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.

After this currency pair was able to bounce off of its descending 61.8 Fibonacci Retracement Fan Support Level, it managed to eclipse its short-term resistance zone.

Better than expected economic data out of China this morning provided a boost to the Australian Dollar, the leading Chinese Yuan proxy currency.

The Euro rallied a bit during the trading session on Thursday but then pulled back to form a shooting star.

The British pound rallied against the US dollar during trading on Thursday, filling the gap from the Monday opening, and breaking through it.

The S&P 500 has rallied quite nicely during the trading session on Thursday, breaking above the psychologically important 3300 level.

The NASDAQ 100 has rallied a bit during the trading session on Thursday, breaking above the 9100 level.

The Australian dollar has had a choppy trading session on Thursday, initially breaking above the recent highs to show signs of strength

The US dollar has rallied quite nicely during the trading session on Thursday, breaking above the ¥110 level again.

The FTSE 100 has been chopping sideways more than anything else over the last week or two.

The Natural Gas markets formed a bit of a harami during the trading session on Thursday, as the natural Gas Storage figures in the United States were much more bullish

The West Texas Intermediate Crude Oil market had a somewhat choppy and volatile day, but the candlestick does look rather healthy.

Gold markets pulled back a bit during the trading session on Thursday, as US economic figures came out much stronger than anticipated.

According to one New Zealand business manufacturing gauge, the sector unexpectedly contracted in December.