Forex Daily Forecast, Analysis and Prediction

Check out the EUR/USD Forex signal for October 22, 2014 here.

Get the signal trading updates from the month of September 2014 here.

International Business Machines Corp. (NYSE:IBM) was one of the biggest decliners in trade yesterday on the back of a dismal set of quarterly numbers reported by the company.

Get the USD/JPY Forex signal for October 21, 2014 here.

Get the EUR/USD Forex signal for October 21, 2014 here.

The WTI Crude Oil market continues to grind away as the Monday session offered a bit of support, but it is still within the realm of consolidation.

The EUR/USD pair bounced a bit during the session on Monday, testing the 1.28 handle again.

The USD/JPY pair gapped higher at the open on Monday, and then turned back around to fill that very gap. This is classic technical analysis, and normally means that we are continuing to go higher.

News emerged over the weekend that Bitcoin exchanges would now allow trading in other currencies, which would help in provide it with higher liquidity and more credibility, while providing entry for a new slew of traders.

According to the analyses of the AUD/USD and USD/JPY pairs, trader profited on a binary options platform. See how here for October 20, 2014.

The WTI Crude Oil markets have been ruthlessly sold off over the last couple of months. That in itself isn’t anything new or newsworthy, but the fact that the bounce could produce anything close to an extended gain shows just how much trouble there is in the oil market.

The EUR/USD pair has recently tried to gain strength after falling all the way down to the 1.25 handle. However, the market could not keep any of the gains above the one point to a level, and for me that is very important as I have identified the 1.28 level as the beginning of a significant amount of resistance that extends all the way up to the 1.30 handle.

The USD/JPY pair broke higher during the course of the session on Friday, clearing the top of the hammer that informed on Thursday. What is most important as far as I can see on this chart is the fact that the Wednesday candle slammed into the 105 level, but failed to break below it.

The AUD/USD pair failed at the 0.88 level on Friday again, and this only in my opinion strengthens the idea of the Australian dollar continuing to lose strength.

The USD/CAD pair tends to be rather choppy in general, and the most recent action certainly will do nothing to dissuade traders from thinking so.