Japanese Yen 1Q 2021 Forecast: Key Trend Breaks Hint at Sustained Losses 2020-12-19 04:00:00 Daniel Moss, Analyst
JPY Technical Forecast: Bearish
NZD/JPY eyeing push to multi-year highs after clearing long-term trend resistance. Coming Soon! Download the NEW 1st Quarter Forecast Live on Monday on our Free Trading Guides Page!
The haven-associated Japanese Yen has lost significant ground against the cyclically-sensitive Australian and New Zealand Dollars, falling over 31% and 24% respectively since topping at the height of the coronavirus crash in March. These losses look set to extend into the first quarter of 2021 as both exchange rates breach key long-term resistance.
AUD/JPY Weekly Chart – Break Above 200-MA Hints at Further Gains
Australian Dollar 1Q 2021 Forecast Upbeat as RBA Rejects Negative OCR 2020-12-19 07:00:00 David Song, Strategist
The Australian Dollar has outperformed its US counterpart throughout the fourth quarter of 2020, with AUD/USD trading at its highest level since June 2018 as the Reserve Bank of Australia (RBA) continues to rule out a negative interest rate policy (NIRP).
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It seems as though the RBA will keep the official cash rate (OCR) at the record low of 0.10% at its next meeting on February 2 as Governor Philip Lowe and Co. insist that “we are still of the view that a negative policy interest rate in Australia is extraordinarily unlikely, with any benefits being outweighed by the costs.”
Equities Technical Forecast 1Q 2021: Will the Santa Rally Carry Into Next Year?
NASDAQ 100, NIKKEI 225, ASX 200 index Technical Forecast: BULLISH
The Nasdaq 100 index breached key chart resistance and aims for higher levels into 2021
Japan’s Nikkei 225 hit a three-decade high in November 2020, eyeing key chart resistance
Australia’s ASX 200 index tracking higher in an “Ascending Channel” as metal prices surge
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A relentless rally on Wall Street appears to be carrying on, propelled by an impending US fiscal stimulus package, vaccine rollout and the Federal Reserve’s dovish stance in the wake of coronavirus resurgence in the world’s largest consumer market. All three major US indices marched to their record highs in December, which some traders describe as a “Santa rally”. Their ascending trends appear to remain intact from a techni
Gold Price 1Q 2021 Technical Forecast: The Correction May Be Over Soon 2020-12-19 10:00:00 Paul Robinson, Strategist
Gold Price Technical Outlook:
Bull-flag building around long-term support
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The final three month frame of 2020 brought with it weakness, an outlook we had going into Q4. The general nature of the decline looked corrective within the context of a longer-term uptrend as buyers stepped in routinely and prevented the metal from selling off too aggressively.
It was interesting to see gold decline with the dollar, but the correlation between the two is far from perfect and from time-to-time the two will trade in tandem. However, the correlation is likely to revert back into negative territory at some point soon, and if the outlook for gold stands to be longer-term bullish then it may mean more dollar we
US Dollar Q1 2021 Forecast: US Dollar Evening Star Drives into Fresh Two-Year-Lows 2020-12-19 19:00:00 James Stanley, Senior Strategist
US Dollar Q1 2021 Talking Points:
Despite risk markets rallying aggressively in 2020, it was a bad year for USD bulls.
The US Dollar just began to interact with the psychological level of 90.00 on the heels of the final FOMC rate decision of 2020.
The analysis contained in article relies on price action and/orchart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
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