Forex Daily Forecast, Analysis and Prediction

The WTI Crude Oil markets rose during the session on Tuesday, and in fact even managed to break out rather successfully. I have been looking at the $101.50 level as the resistance it needs to be overcome, and now I believe that the market is going to chew into the previous consolidation area from the month of October.

The EUR/USD pair continued its bullish attitude during the session on Tuesday, breaking well above the 1.37 level. This is an area that has been resistive lately, but I feel that there is quite a bit more resistance above anyway.

The EUR/GBP pair is one that I don’t want to trade very often. This is simply because it tends to chop around a lot, as one would expect considering that the two economies are so heavily intertwined.

The AUD/USD pair had an interesting session on Tuesday, as it went back and forth, but ultimately settled slightly negative in order to form a shooting star. What I find most interesting about this is the fact that the shooting star sits right on top of the 0.90 handle.

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

The XAU/USD pair (Gold vs. the American dollar) scored a gain of 0.76% yesterday as safe-haven demand continued to lure some investors back into the market.

The WTI Crude Oil markets found strength during the session on Monday, but it should be noted that the session would have been weighted towards the Asian and European time frames, as the Americans celebrated President’s Day, therefore limiting the liquidity during part of the session.

The EUR/USD pair tried to rally for the Monday session, but as you can see pulled back at the 1.37 region. With this, the market formed a shooting star. This shooting star is placed at an interesting place for me, as the 1.37 level has offered resistance lately.

The cable took off to the upside originally during the session on Monday, but as you can see failed at the 1.68 level. The pullback formed a shooting star, and although this is a very bearish signal, I feel that the market really can’t be sold at this point as we have recently broken out.

The EUR/JPY pair rose during the session after initially falling on Monday, but remains below the 140 level. It’s at the 140 level that I see a significant amount of resistance, so we need to get above there in order to start buying again.

In a battle of safe havens, the CHF/JPY pair makes for an interesting trade at times. It very rarely moves rapidly, but is more of a “slow grind” as it tends to trend for very long periods of time.

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