Forex Daily Forecast, Analysis and Prediction

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

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

The EURUSD skyrocketed last week, enjoying the low liquidity of the holidays; and after the stronger-than-expected German business confidence data strengthened investor confidence for the economic recovery in the Euro Zone.

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

Gold prices rose %0.9 over the course of the week after the bulls managed to hold prices above the 1200 level. But the pair formed an inside week pattern, meaning that the entire weekly trading range was within the price range of the previous week.

WTI Crude Oil rose during the session on Friday, but as you can see we more importantly broke above the $100 level. Because of this, I feel that this market will continue to go higher, and that we are about to attempt to break into the previous consolidation area from back in October.

The EUR/USD pair had a violent session on Friday, smashing through the 1.38 handle without any issue whatsoever. However, in reality I believe that this market is moving based upon the lack of liquidity, and therefore that move isn’t much to pay attention to.

The USD/JPY pair initially fell during the session on Friday, but as you can see rose higher by the end of the day. The shape of the candle is more or less a hammer, and as a result I believe that this market is going to continue going higher now.

The USD/CAD pair fell initially during the session on Friday, but bounce just above the 1.06 level in order to prove that level to be supportive yet again. Lately, we have been bouncing off of the 1.06 level and testing the 1.07 level for resistance.

The GBP/USD pair had a massive move higher during the session on Friday, breaking through the 1.65 level finally. However, we could not stay above that level, and that just shows that there is a significant amount of selling pressure above that handle.

Check out the weekly Forex forecast for the end of the month, and year here.

In a Forex forecast made in October of 2013, Christopher Lewis made some predictions for the quarter. Was he right? Find out here.

Gold prices settled higher yesterday but failed to hold above the 1213 resistance level. The XAU/USD pair has declined approximately 28% since the beginning of the year and is set to post its first annual decline in thirteen years.

The WTI Crude Oil markets had a positive session on Thursday, as traders came back from the Christmas break. The market of course closed above the $99.50 level, which is a slightly significant when for the buyers, as it has kept the buyers at bay for a few sessions.

The EUR/USD pair rose during the session on Thursday as traders came back from the Christmas holiday. What I find most interesting though is the fact that I had drawn an uptrend line on this chart a couple of sessions ago, and it appears that we are in fact honoring it.