Forex Daily Forecast, Analysis and Prediction

Get the EUR/USD Forex signal for May 6, 2015 here.

Get the NZD/USD Forex signal for May 5, 2015 here.

Get the USD/CAD Forex signal for May 5, 2015 here.

Get the USD/JPY Forex signal for May 5, 2015 here.

Get the GBP/USD Forex signal for May 5, 2015 here.

Get the EUR/USD Forex signal for May 5, 2015 here.

Gold prices rose 0.85% yesterday, posting the first gain in four sessions, and settled at $1188 an ounce. Gold’s rebound on Monday came as weak Chinese data spurred speculation that officials will take additional measures in a bid to bolster slowing growth.

Get the AUD/USD Forex signal for May 4, 2015 here.

Get the USD/CAD Forex signal for May 4, 2015 here.

Gold fell to its lowest level in six weeks on Friday as the dollar strengthened and technical factors weighed on the market.

The EUR/USD pair recently broke higher during the session on Friday, clearing the 1.12 level. This is an area where I had anticipated seeing quite a bit of resistance, and quite frankly that’s exactly what we got.

The EUR/CAD pair rose during the session on Friday as all EUR related pairs did. However, this market did the same thing most of the European currency related markets did, pulled back. By the time that the market closed, we ended up forming a shooting star.

The EUR/JPY pair broke higher during the session on Friday, and even broke above the 135 handle. This of course was a very bullish sign, but we sold off at the end of the session in order to form a nice-looking shooting star.

Get the Forex forecast for the week of May 4, 2015 here.

Get the Forex forecast using quant and chart reading for some of the major currency pairs for the week of May 3, 2015 here.