Forex Daily Forecast, Analysis and Prediction

The WTI Crude Oil markets fell during the session on Tuesday, testing the $93 level. That level has offered support though, and as a result the candle does look a little bit like a hammer.

According to the analysis of the NZD/USD and USD/CAD pairs, trader profited on a binary options platform. See how here.

Last month printed a bearish candle, though one showing plenty of support in its long lower wick, so it was not strongly bearish. It was the smallest ranging month of 2013.

Last week printed a bearish pin bar off a fairly strong resistance zone. The uptrend remains intact but has not been able to make significant new highs in recent weeks.

Gold prices (XAU/USD) settled slightly higher yesterday but remained within the previous day's trading range. The XAU/USD pair seems to be trying to form a bottom since the prices bounced off of the 1306.05 level which is also the 50% retracement based on the bullish run from 1251.60 to 1361.76.

The NZD/CHF pair isn't one that most of you trade over the longer term, but it is one that you should be paying attention to. This is because it is very sensitive to the risk appetite of markets in general, not just in New Zealand or Switzerland.

The USD/CAD pair did move too much during the session on Monday, but what it did do was fall enough to test the 1.04 support level. At the end of the day, we formed a nice looking hammer, and this suggests that the market will continue to recognize the 1.04 level as a significant area.

The GBP/USD pair bounced during the session on Monday, showing the 1.59 level as being supportive. Because of this, it appears that the overall consolidation is going to continue, and I started buying this pair early during the Monday session.

The EUR/USD pair initially fell during the session on Monday, but as you can see there was enough buying interest below the 1.35 level in order to continue to show support at this area as we have seen over and over again.

The WTI markets did very little during the session on Monday, essentially reaffirming the fact that the 95 level is going to be a slightly resistive area, while the 94 level will be supportive.

Check out the weekly signal for the AUD/NZD pair here.

According to the analysis of the EUR/USD and USD/CAD trader profited on a binary options platform. See how here.

In my last article, I noted a possible top in the GBP/USD pair at the 1.62 level, and was possibly seeing a bearish trend start to setup. From 10/21: Within that up-trend, there is some failure occurring within the trend back up to its upper band.

The XAU/USD pair fell for the week and settled at $1315.54 an ounce on Friday as investors decided to liquidate some of their long positions and turn to the relative safety of the U.S. dollar.

Last Thursday's analysis ended with the following predictions relevant to what has happened since: