Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair rallied on Friday, using the 115 level as support. The Australian dollar tried to rally on Friday but turned around to form a negative candle.

Gold prices ended the week up $22.31 at $1172.61 an ounce, as a retreat in the dollar took some pressure off the precious metal.

Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for the week of January 9, 2017.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of January 9, 2017.

Get the weekly Forex forecast featuring some of the major currency pairs for the week of January 9, 2017 here.

The EUR/USD pair rallied on Thursday, breaking above the 1.05 level. The GBP/USD pair initially fell on Thursday but turned around to form a positive candle.

The US dollar fell against the Japanese yen during the session on Thursday, testing the 115 level. The Australian dollar broke above the 0.73 level on Thursday as well, and shot towards the 0.7350 level.

The S&P 500 fell during the day on Thursday, showing signs of exhaustion at the top of what has been decent consolidation. The NASDAQ 100 fell initially during the day on Thursday, but turned around to break towards the 4950 handle.

The oil markets were very volatile during the Thursday session as we initially tried to rally, but gave back most of the gains and ended up forming a less than impressive candle. Natural gas markets were volatile as well, as we broke below the $3.25 level finally.

As we receive the Nonfarm Payrolls announcement during the day today, the gold markets will be extraordinarily volatile.

Get the NZD/USD Forex Signal for January 5, 2017 here.

Get the AUD/USD Forex Signal for January 5, 2017 here.

Get the USD/JPY Forex Signal for January 5, 2017 here.

Get the USD/CAD Forex signal for January 5, 2017 here.

Get the USD/CHF Forex signal for January 5, 2017 here.