Forex Daily Forecast, Analysis and Prediction

The price of the TRY/USD stabilized against the dollar during early trading this morning, and at the end of last week.

During the continued decline of the US dollar, there was a good opportunity for the GBP/USD pair to move upwards towards the 1.2435 resistance level.

There is no doubt that the recent surprise of the Japanese central bank by keeping its monetary policy unchanged contributed strongly to the pressure on the Japanese yen.

The trading week begins with the bulls dominating the direction of gold, XAU/USD, with gains that reached the $1937 resistance level, the highest for the yellow metal in months.

The USD/JPY rallied a bit during the trading session on Friday, as we have broken above the ¥130 level, but gave that up again.

The GBP/USD pulled back ever so slightly during the trading session on Friday, but then turned right back around to test the 1.24 level.

The S&P 500 has rallied a bit during the trading session on Friday as the 50-Day EMA has offered a certain amount of support.

The EUR/USD has been very noisy during the trading session on Friday, showing signs of a little bit of bullish pressure, but quite frankly we are hanging around the same area that we have been around for a while.

The Dow Jones Industrial Average has been relatively quiet during the trading session on Friday, sitting right around the 33,000 level.

The USD/BRL went into the weekend near the 5.2075 mark.

The USD/ZAR is trading near the 17.12700 mark as of this writing and the currency pair continues to display a rather nervous volatile range.

The BoJ concluded its first monetary policy meeting of the year last week.

The GBP/USD had an eventful week as the UK published important economic numbers.

The AUD/USD exchange rate continued its bullish trend as the US dollar sell-off gained steam.

My previous EUR/USD signal on 9th January was not triggered, as the resistance level I had identified at $1.0692 did not hold strongly enough to produce a short trade signal.