Forex Daily Forecast, Analysis and Prediction

The TRY/JPY pair broke out during the session on Thursday, eclipsing the 49.50 resistance barrier. With that being the case, it appears of the market is ready to go much higher, and although it has been a fairly parabolic move, this pair can move drastically and in short order.

The EUR/USD pair has been falling rather significantly for some time now. The last couple of weeks have been somewhat consolidative though, so that being the case it appears of the market will more than likely try to break down and continue much lower.

The GBP/USD pair has been bouncing around the 1.16 level for most of the month of October. What I find significant is the fact that it is the 50% Fibonacci retracement from the entirety of the uptrend, and that the support has shown itself time and time again.

The USD/CAD pair has bounced around the 1.12 level for the last several weeks. I do believe that ultimately we will continue the uptrend that we have seen for some time now, but quite frankly we are at pretty significant levels when it comes to the oil markets.

The USD/JPY pair has had a couple of the strong week see recently, after bouncing off of the important 105 level.

The NZD/USD pair is rapidly becoming one that I am enjoying trading. I believe that the central bank out of Wellington will get its wish, a much lower priced Kiwi dollar.

Twitter Inc. (NYSE:TWTR) continued its downward trend during yesterday’s trading session due to above average volumes, which is a bearish indicator.

The EUR/USD pair initially tried to rally during the course of the day on Wednesday, but as you can see fell rather hard.

The WTI Crude Oil markets did gain during the session on Wednesday, testing the $83 level for resistance. Needless to say, it did in fact find the $83 level as resistive, and formed a bit of a resistive looking candle.

The gold markets fell hard during the session on Wednesday as the Federal Reserve released a statement after the interest-rate announcement that was more hawkish than anticipated.

The CAD/JPY pair broke higher during the session on Wednesday, as the Japanese yen in general was sold off. This market tends to be very sensitive to the price of oil as well, and it of course had a slightly positive session.

The AUD/NZD pair broke higher during the course of the session on Wednesday, testing the 1.13 level. This area has been resistance several times, and if we can break above the 1.13 level, I feel that this market should go much higher.

Get the USD/JPY Forex signal for October 30, 2014 here.

Get the EUR/USD Forex signal for October 30, 2014 here.

The XAU/USD pair closed lower than opening as the American dollar gained significant strength across the board following the Federal Reserve's statement.