Forex Daily Forecast, Analysis and Prediction

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

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

The American dollar continued to lose ground against gold during yesterday's session as worries over political turmoil in Ukraine and weaker than expected economic data out of the United States increased investors' appetite for the shiny metal.

The WTI Crude Oil markets fell during the session on Tuesday, but found more than enough support down at the $101 level to turn everything back around and keep the market afloat. In fact, the support was strong enough to push the markets up roughly 1 dollar, which formed a nice-looking hammer for the daily candle.

The EUR/USD pair continues to be one that’s almost impossible to trade for the Tuesday session. Essentially, we are going back and forth in a roughly 50 pip trading range, as isn’t much room to be involved in.

The GBP/USD pair try to rally during the session on Tuesday, but got into a bit of resistance above the 1.67 handle, so much so that we ended up running a shooting star for the session.

The USD/JPY pair fell during the session on Tuesday, but as you can see found support at the 102 level yet again. I am starting to see the potential for some type of ascending triangle at the moment, but I do have to admit that my longer-term bias is to the upside anyway.

The USD/CAD pair rose during the session on Tuesday, capturing about half of the losses that it had suffered on Monday. However, we are not out of the woods yet, as we certainly look like we could drift a little bit lower at this point.

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

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

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The XAU/USD pair rose for a third consecutive day as concerns over the world's largest economy continued to lure some investors to relative safety of the precious metal. Gold prices reached $1338.85 an ounce yesterday, the highest level in 16 weeks, before pulling back slightly to the 1335.

The WTI Crude market went back and forth during the session on Monday, essentially settling nothing. The one thing that the chart does show me is that the $102 level is currently acting as a little bit of a support level.

The EUR USD pair went back and forth during the session on Monday, essentially settling nothing. However, we did show the 1.37 level to be supportive still, and as a result I believe that we are still in the consolidation area that is bordered by both that level, and the 1.38 level on the top.

The USD/CAD pair has been one that’s been interesting to follow lately, as we have had such a bullish run by the US dollar. However, they did in fact come to an end, if only temporarily so, during the Monday session.