Forex Daily Forecast, Analysis and Prediction

Gold prices hit their lowest level since October 9 yesterday as investors continued to price in the increasing likelihood of a rate rise from the Federal Reserve as early as December.

Get the NZD/USD Forex signal for October 29, 2015 here.

Get the AUD/USD Forex signal for October 29, 2015 here.

Get the USD/JPY Forex signal for October 29, 2015 here.

Get the USD/CAD Forex signal for October 29 2015 here.

Get the Forex signal for the GBP/USD pair for October 29, 2015 here.

Get the USD/CHF Forex signal for October 29 2015 here.

Get the EUR/USD Forex signal for October 29, 2015 here.

The EUR/USD pair fell significantly during the session on Wednesday as the markets reacted to the FOMC statement. However, I believe that breaking below this trend line is just the beginning of what the market is trying to do.

The USD/CAD pair fell rather drastically during the course of the session on Wednesday, as the oil markets skyrocketed.

The NZD/USD pair fell significantly on Wednesday but found enough support near the 0.66 level to bounce and form a nice-looking hammer. The hammer of course is a very bullish sign and probably one of the most positive candle sticks you can find.

The EUR/CAD pair fell significantly during the session on Wednesday, as we continue the downtrend formation. Recently, I have suggested that we have broken below a significant support level, and it now looks as if we are going to continue to the downside.

During the session on Wednesday, the AUD/SGD pair ended up falling significantly at the beginning of the day only to turn back around and form a nice-looking hammer.

Gold prices declined $11.01 an ounce yesterday as a strong rally in the U.S. dollar pushed prices down.

Get the NZD/USD Forex signal for October 28, 2015 here.