Forex Daily Forecast, Analysis and Prediction

Get the weekly Forex forecast using quant vs chart reading for the week of June 7, 2015 here.

Gold prices settled lower on Thursday, extending losses from the previous session, as upbeat data on the U.S. economy eroded demand for safe-haven assets.

The EUR/USD pair initially took off to the upside during the session on Thursday, but found quite a bit of resistance at the 1.14 level. Because of this, we ended up turning back around and formed a shooting star.

Gold prices fell 0.7% on Wednesday to settle at their lowest level in more than three weeks as signs of progress in the Greek bailout saga and better than expected U.S. economic data curbed appetite for the metal.

Check out the AUD/USD Forex signal for June 4, 2015 here.

Check out the USD/JPY Forex signal for June 4, 2015 here.

Check out the GBP/USD Forex signal for June 4, 2015 here.

Check out the EUR/USD Forex signal for June 4, 2015 here.

The EUR/USD pair initially fell during the day on Wednesday, but found enough support near the 1.11 level to turn things back around and bring buyers back into the marketplace.

The WTI Crude market fell during the session on Wednesday, as we continue to meander in a relatively tight consolidation area. Because of this, I believe that this market will probably drift a little bit lower, perhaps heading back down to the $56 handle.

The GBP/USD pair initially fell during the day on Wednesday, but found enough buyers just above the 1.52 level to turn things back around and form a hammer.

The CAC 40 Index fell slightly during the session on Wednesday, dropping below the €5000 level. This of course is a large, round, psychologically significant number, and as a result it will attract quite a bit of trading action.

Check out the AUD/USD Forex signal for June 3, 2015 here.

Check out the USD/JPY Forex signal for June 3, 2015 here.

Check out the GBP/USD Forex signal for June 3, 2015 here.