Forex Daily Forecast, Analysis and Prediction

During the session on Friday, the US dollar dropped against the Singapore dollar significantly, testing the 1.39 handle.

The USD/MXN pair fell initially during the session on Friday, but turned back around to form a hammer again. We had formed a hammer on Thursday as well, so I would like to look at this chart.

The EUR/USD pair initially tried to rally during the course of the day on Friday, but as you can see we really struggled near the 1.15 handle.

Gold prices rose $7.52 an ounce on Friday, up for the third straight session to $1138.66, as a softer dollar, sagging risk appetite and intensifying worries over the impact of China's slowing economy on global economies lured some investors back into the market.

Get the Forex forecast for major currency pairs like EUR/USD, USD/CAD, USD/JPY and AUD/USD for the week of September 21, 2015 here.

Gold prices rose $12.05 an ounce yesterday, benefiting from a weaker dollar and falling U.S. Treasury yields after policymakers at the Federal Reserve decided to keep interest rates on hold in September.

During the session today, we should see quite a bit of volatility in this pair. After all, the EUR/USD pair is essentially the gauge at which most people measure dollar strength.

The GBP/USD pair broke to the upside during the session on Wednesday, slamming into the 1.55 level. This is an area that I have been talking about for some time now, as it is previous supportive, and should now be resistance.

Gold prices rose 1.13% on Wednesday as the American dollar weakened after economic data on retail sales and industrial production came in worse than anticipated.

The USD/JPY pair fell initially during the course of the day, dropping well below the 120 level.

The EUR/JPY pair initially fell during the course of the session on Tuesday, crashing into the 135 handle. The 135 level below appears to be supportive though, as we managed to bounce enough to form a hammer.

The EUR/CAD pair fell during the course of the session on Tuesday, breaking down below the bottom of the hammer that had formed on Monday.

The AUD/USD pair broke higher during the course of the session on Monday, and even managed to break above the top of the shooting star that had formed on Friday.

Gold settled up $1.31 at $1108.87 on Monday but remained within the trading range of the past 3 sessions as the market cautiously awaits the start of the Federal Open Market Committee meeting this week.

The NZD/CHF pair initially tried to rally during the course of the session on Monday, but as you can see pulled back. However, what I find most interesting about this chart is the fact that we continue to find support somewhere near the 0.61 handle, and that suggests to me that we may have a bit of a zone going at the moment.