Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair rallied during the session on Tuesday, breaking well above the 120 level but as you can see we gave back about half of the gains and formed a shooting star.

The GBP/NZD pair fell during the bulk of the session on Tuesday, but as you can see found plenty of support at the 2.00000 handle. With that being the case, the market looks as if the buyers are stepping in and that the “2” level is in fact one that the buyers are willing to support.

The EUR/JPY pair fell back during the session on Tuesday, but quite frankly we are still well within the consolidation area and therefore I don’t look into this too much.

The AUD/JPY pair went back and forth during the session on Tuesday, testing the 97.50 level. This is an area that I see somewhat significant support act, and now that we have formed a large range for the Tuesday session, I think that a break above the highs for the day should send this pair higher.

Gold prices ended Tuesday nearly unchanged, taking a breather after dropping 1.5% the day before yesterday, as the uncertainty in the market and lack of volume caused prices to remain subdued.

Here are the updates to trades we recommended in November 2014 as well as updates on the two open positions from previous months.

The US dollar continues to strengthen against most currencies, and of course the Euro isn’t going to be any different.

The GBP/USD pair fell again during the session on Monday, as we had initially tried to rally. However, you can see that the area above the 1.5650 level of course offered quite a bit of bearish pressure, sending this market down towards the 1.5575 handle.

The USD/CAD pair initially fell during the session on Monday, but found buyers below in order to turn things back around and form a rather positive candle.

The AUD/USD pair showed weakness again on Monday, showing a continuation of selling pressure every time we rally.

The USD/JPY pair broke above the 120 level during the trading session on Monday, as it appears that we are ready to continue going much higher. The US stock indices all are at the highs, or essentially close enough to it in order for us to feel positive about this particular currency pair.

Get the USD/JPY Forex signal for December 23, 2014 here.

Get the GBP/USD Forex signal for December 23, 2014 here.

Check out the EUR/USD Forex signal for December 23, 2014 here.

Gold prices fell 1.5% yesterday, extending their losses to a second straight session, as the dollar rally eroded the appeal of the precious metal.