Forex Daily Forecast, Analysis and Prediction

Friday could have been a big day in this pair. After all, the US and Canada were both releasing employment numbers, and those are major factors in determining the value of a currency. The problem of course is that both of these countries disappointed with lighter than anticipated numbers.

The NZD/USD pair had a positive Friday, as the Non-Farm Payroll numbers came out a bit light. However, this pair is in a serious downtrend, and I see quite a bit of resistance above.

The cable pair has recently been sold off rather viciously, but on Friday we got a bit of a reprieve in the value of the Pound. After all, the Non-Farm Payroll report came out lighter than anticipated, and this would have had people thinking that perhaps the US economy wasn’t as strong as originally thought.

The AUD/USD pair has been range bound for some time now, and the Friday session did little to change that. The Non-Farm Payroll numbers out of America were a bit light in comparison to the expected numbers, but at the end of the day it wasn’t enough to kill off the US dollar.

Check out the weekly Forex forecast for some of the major pairs for the week of September 7, 2014 here.

The XAU/USD pair closed lower than opening on Thursday as strength in the American dollar helped draw investors away from the precious metal.

The WTI Crude Oil markets fell during the session on Thursday, as the US dollar continued to improve its value. With the ECB cutting interest rates, the US dollar of course expanded in value, and as a result of the oil markets fell as it took less of those dollars to buy the commodity.

The EUR/USD pair fell hard during the course of the day on Thursday, with the European Central Bank surprising the market with a completely unexpected interest-rate cut. With that, the value the Euro was pummeled against most currencies, with the dollar being especially interesting as the Federal Reserve is looking to tighten its monetary policy.

Get the bitcoin forecast for September 4, 2014 here.

Get the USD/JPY Forex signal for September 4, 2014 here.

Get the GBP/USD Forex signal for September 4, 2014 here.

Check out the EUR/USD Forex signal for September 4, 2014 here.

The XAU/USD pair (Gold vs. the American dollar) settled higher yesterday, marking the first rise in four trading sessions, as caution set in ahead of high impact economic data releases and central bank policy meetings.

The WTI Crude Oil market rose during the course of the day on Wednesday, and even challenged $96.00 handle. It’s above there that we would see a significant amount of buying pressure reenter the market, and perhaps try this market as high as $98.50.

The EUR/USD pair broke higher during the session on Wednesday, but as you can see gave back about half of the gains. We did form a hammer during the Tuesday session though, so it’s not a huge surprise that we got a little bit of support.