Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair had a strong showing on Friday, after initially dipping down to the 1.63 handle. As we’ve seen over the last several sessions, this area has been very supportive, and on Friday it launched the market much higher.

Check out the weekly Forex forecast for the some of the major pairs here.

The XAU/USD pair was trading at the same level when I wrote yesterday's analysis. We have been going back and forth for the last 10 days roughly between the Fibonacci 23.6 and 38.2 levels (based on the bearish run from 1433.70 to 1182.35) as the market simply had no real catalyst to push prices in either direction.

The WTI Crude Oil markets try to rally during the session on Thursday, but as you can see struggle do just below the $99 handle. That being said, the $99 handle of course had been supportive in the past and the fact that we pullback informed a shooting star would normally be a very negative sign.

The EUR/USD pair initially fell during the session on Thursday, but as you can see found support at the exact same spot that we’ve seen over the last several sessions.

The USD/JPY pair rose during the session on Thursday, breaking the top of the two previous candles. Both of those candles were hammers, so this of course caught my attention.

According to the analyses of the EUR/USD and GBP/USD pairs, trader profited on a binary options platform. See how here.

Gold prices (XAU/USD) settled slightly higher after a volatile session yesterday. The pair traded as high as 1274.40 after the ADP private jobs data fell short of market expectations but prices pulled all the way back to 1255 support level as sellers stepped in.

The WTI Crude Oil markets gapped higher at the open on Wednesday, but as you can see we essentially went back and forth, banging around in a relatively tight range.

The EUR/USD pair had a back and forth session on Wednesday, but most importantly favored the 1.35 level as support. That being the case, it appears that the market will find buyers down at this level, especially with the nonfarm payroll numbers coming on Friday.

The GBP/USD pair fell hard during the session again on Wednesday, but for the second day in a row found enough support below the 1.63 level in order to form a nice-looking hammer.

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

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

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

According to the analyses of the USD/JPY and GBP/USD pairs, trader profited on a binary options platform. See how here.