Forecasts & Analysis | Currencies, Page 1
USD/JPY Weekly Price Forecast – US Dollar Rockets Higher Against Japanese Yen During The Week
The US dollar broke above the ¥110 level during the week but continues to struggle above there. That being said though, this is a market that looks as if it is ready to go higher over the longer term, as we are now above the 200 week EMA.
GBP/USD Weekly Price Forecast – British Pound Continues To Look Choppy
The British pound went back and forth during the course of the week, as we get a lot of push back and forth from both buyers and sellers. The Friday session had a very poor retail sales figure release, and that of course weighed upon the market.
GBP/JPY Weekly Price Forecast – British Pound Breaks 200 Week EMA
The British pound rallied against during the trading week to break above the 200 week EMA against the Japanese yen. This is a be decidedly “risk on” move, but there is a lot of noise above that will continue to make this messy.
EUR/USD Weekly Price Forecast – Euro Gives Up Gains
The Euro tried to rally during the week but ran into a lot of trouble at the 50 week EMA. At this point, the market looks very likely to continue to drift a little bit lower, as we are in the middle of a larger range.
AUD/USD Weekly Price Forecast – Australian Dollar Continues To Grind
The Australian dollar went back and forth during the course of the week, trying to break out to the upside but then pulling back. Ultimately, this is a market that will be paying attention to Asia, because that will give Australia its clues.
GBP/USD Price Forecast – British Pound Suffers Retail Sales Shock
The British pound pulled back after initially trying to rally during Friday as the retail sales numbers were miserable in the United Kingdom. That being said, we are still very much in an uptrend and it will be interesting to see whether or not we can continue.
GBP/JPY Price Forecast – British Pound Continues To Grind Higher Against Japanese Yen
The British pound did get a bit of a shock during the trading session on Friday as retail sales missed the expected figures. That being said, it looks as if the market is ready to recover.
EUR/USD Price Forecast – Euro Breaks Down Towards 50 Day EMA
The Euro has broken down significantly during the trading session on Friday but has a lot of technical support just below.
AUD/USD Price Forecast – Australian Dollar Continues To Chop Around 200 Day EMA
The Australian dollar continues to be very choppy and noisy right around the 200 day EMA, an area that will cause a lot of attention for longer-term technical traders.
EUR/USD Mid-Session Technical Analysis for January 17, 2020
Based on the early price action, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the 50% level at 1.1110.