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GBP/USD
The British pound plunged during the course of the week, as the market continued to see the US dollar act like a wrecking ball against almost everything. At this point in time, it seems likely that the currency pair will eventually fall down to the 1.25 level, which is an area that could be significant support from a psychological standpoint, as well as a previous reactionary standpoint.A candlestick, like the one that was formed for the week, typically signals that traders are going to see some follow-through, based upon its size. Another indicator is the way the currency pair appears set to close at the bottom of the range.

USD/CHF
The US dollar was once again rather strong throughout the week, and it has therefore seen quite a bit of upward pressure against the Swiss franc. That being said, it appears to be a bit overextended at this point in time, so a short-term pullback could occur.I would look at the 0.8750 level as a potential support level. Traders should be cautious on such a pullback, but that is an area that I’d be interested in buying given the right price action. On the other hand, if we do see it go straight up in the air, then the pair could attempt a push to the 0.90 level above.

S&P 500
The S&P 500 was rather negative during the course of the week, as it seemed to be reeling from that shot higher from the previous week. The US election had turbo-charged the markets, so it’s not too big a surprise that the index had to give back some of those gains.All things being equal, the S&P 500 looks to have a massive amount of support near the 5700 level, so I don’t think that traders will see the market drop below that point. That being said, I think buyers will eventually return to the space.

Gold
Gold markets fell rather significantly during the course of the week, as the yellow metal plunged toward the $2550 level. Underneath there, the $2500 level appears to be offering support, and I think this area will continue to be an important one.That being said, the chart shows a horrific-looking candlestick, so traders may have further downward pressure ahead. Only time will tell. What is worth noting is that Thursday and Friday were both relatively quiet, so this might be the beginning of an attempt to turn things back around.

AUD/JPY
The Australian dollar continued to dance around the JPY100 level, which is a large, round, psychologically significant figure. Keep in mind that this pair is highly sensitive to risk appetite. It is also worth noting that the 50-week EMA sits just below that area.

USD/JPY
The US dollar plunged on Friday, but it did end up putting in a positive week against the Japanese yen. I have been hearing some whispers about potential Japanese intervention, but that is an unsubstantiated rumor at the moment. Either way, I am a buyer of dips. If given enough time, I think we will see this market go higher again, if for no other reason than the interest rate differential between the two currencies.

AUD/CHF
The Australian dollar initially tried to rally against the Swiss franc for the week, but it found quite a bit of resistance just below the 0.58 level. At this point in time, the market is still very much range-bound. A small drop from this point could serve as a potential buying opportunity in what has been a fairly stable currency pair for most of the last year or so. The 0.56 level underneath continues to be a massive floor that I will pay close attention to in order to get involved.

USD/MXN
The US dollar rallied against the Mexican peso again during the past week. There seems to be a lot of noise just above the 20.50 MXN level, which I expect to extend all the way to the 21 MXN level. Underneath, the 20 MXN level should be support, followed by the 19.70 MXN level.Quite frankly, I think that short-term pullbacks will continue to be buying opportunities while there are global growth concerns and rising interested rates in the US.

WTI Crude Oil
Crude oil fell a bit during the course of the week, but there is still a lot of support near the $65 level. I expect to see a bit of a bounce in the crude oil market in this coming week, as OPEC will almost certainly try to defend the price of oil if it gets out of control here. This would make for a short-term trade.More By This Author:EUR/CAD Forecast: Euro Finds Support Against Canadian DollarUSD/CAD Forecast: US Dollar Continues To Power Higher Against LoonieEUR/AUD Forecast: Rallies After Bounce Against The Aussie Dollar