Start the week of January 3, 2022 with our Forex forecast focusing on major currency pairs here.
The euro initially fell during the previous week but then ended up closing at the very top of the range that we have been in. This is a little bit of a “heads up” about the thinking of traders as we step into the new year.
With that in mind, the initial target will be the 1.15 handle. Keep in mind that Friday is non-farm payroll, so it might be a slightly choppy week for the first few days.The Australian dollar rallied last week to continue its grind higher. The fact that we closed at the very top of the weekly candlestick does suggest that perhaps we will try to continue, but we also noted that several of the candlesticks for the week ended up forming long wicks to the upside.
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