Daily Market Forecast, January 25, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

And Gold and Crude Oil have also powered higher in the past day. The short-term trend has been impressive in the broad markets and the weakness of the U.S Dollar has been self-evident.

EUR/USD: Euro Slams Higher & ECB Awaits

The Euro slammed higher on Wednesday and is above 1.24 against the U.S Dollar. The European Central Bank will release its monthly monetary policy decision today and conduct its press conference. The Euro, however, will not only be impacted by the ECB but by its rather ferocious climb made this week. Traders will definitely want their risk management in place when trading the Euro today.

Gold: Speculative Fever Increasing for Precious Metal

Gold has burst to new highs and is trading near 1363.00 U.S Dollars an ounce. The weakness in the U.S Dollar is one of the reasons for the precious metal’s advance, but the commodity has enjoyed a solid trend and speculative fever has also increased. Traders may believe Gold has further gains to still be made near term.

GBP/USD: Pound Enjoying a Bullish Speculative Mode

The Pound continues to make significant gains versus the U.S Dollar. The British currency is in the vicinity of 1.43, which is beginning to bring its value closer to marks not seen since the Brexit vote in June of 2016. Investors are certainly in a bullish speculative mode, and the Pound will get plenty of attention in the coming days.

Crude Oil: Important Resistance Levels Being Broken

U.S Crude Oil has seen its value climb dramatically this week. Crude Oil is above 66.00 U.S Dollars a barrel and has broken through another important resistance level. Traders are riding the commodity’s trend higher and may continue to believe the additional value will be added in the near term.

USD/JPY: Yen Powers Stronger on Trend

The Yen has powered stronger versus the U.S Dollar and is near the 109.00 juncture. The Japanese currency like the other major currencies has made swift gains against the U.S Dollar and is now challenging important support levels. And traders may believe the strong trend will continue for the Yen.

Yaron Mazor is a senior analyst at SuperTraderTV.

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