Forex Daily Forecast, Analysis and Prediction

Check out the signal for the EUR/USD pair here.

Learn where some of the major Forex pairs are headed with this weekly forecast here.

Gold settled slightly higher on Thursday as pullbacks in equities markets lured some investors back to relative safety of the precious metal. It appears that the performance of the equity market will likely continue to influence the price of gold, so a strong correction in these markets might prompt deep pockets to get back into gold.

The WTI Crude Oil markets fell during the session on Thursday, but as you can see found the $94 level to be supportive yet again. This is an area that has been supportive and resistive in the past, so it’s not very surprising that the market did in fact react to it.

The EUR/USD pair tried to rally on Thursday, but found quite a bit of resistance above the 1.3650 level to turn back around and form a shooting star.

The USD/JPY pair try to rally above the 105 level during the session on Thursday, but was left wanting as you can see. The resulting candle is a shooting star, and of course that is a very bearish sign.

The USD/CAD pair had a slightly negative session on Thursday, but what I found most interesting is the fact that we both the bottom of the shooting star from Wednesday, but could not fall below the 1.09 level for any length of time.

The AUD/USD pair fell during the session on Thursday, and at one point time even managed to get below the 0.88 handle, an area that I have been watching for significant support.

The WTI Crude Oil markets rose significantly during the session on Wednesday, breaking above the $94 level with ease. However, I am still a bit concerned about this marketplace going forward, simply because there is so much noise between here and the $96 level.

The EUR/USD pair fell during the bulk of the session on Wednesday, testing the 1.36 level. However, this area is the beginning of significant support going all the way down to the 1.3550 level, and as a result it’s possible that the buyers will more than likely push this pair back up.

The USD/CAD pair rose during the session on Wednesday, but as you can see struggle to get beyond the 1.10 level. This is an area that I have been talking about for some time, and it was in fact my target.

The XAU/USD pair (Gold vs. the American dollar) fell two days in a row as some investors continued to cover their long positions after the latest reports released from the Unite States fueled expectations that the Federal Reserve will continue trimming monetary stimulus at this month’s meeting.

Check out the signal for the GBP/USD pair here.

Check out the signal for the EUR/USD pair here.

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