Forex Daily Forecast, Analysis and Prediction

The primary move since the last forecast was bearish. Market conditions were not quiet when the price broke through 1.6115, it happened outside the London/NY session, at which time trades in this pair are not recommended.

We correctly called the bearish turn at the confluent resistance around the 0.97 level. Although that daily candle did close below 0.9650, it did not close very close to its low, and not within the bottom quarter of its range.

The USD/JPY pair rose during the session on Wednesday, slicing above the 98.50 level during the day. We are still short of the 99 handle, and that is what I need to see broken to the upside in order to start buying this market again.

The USD/CAD pair fell during the session on Wednesday, but found enough support in order to bounce back and form a hammer.

The AUD/USD pair tried to rally during the session on Wednesday, but as you can see the 0.95 level offered resistance yet again, forming a shooting star by the time the markets closed.

The EUR/USD pair went back and forth during the session on Wednesday, eventually settling nothing but it did in the end form a slightly bearish candle.

The WTI Crude Oil markets fell during the session on Wednesday, losing quite a bit and testing the $96.50 level. This market of course has been very bearish recently, so I am a bit hesitant to sell down here even though it certainly looks like it wants to fall.

Check out the forecast for the CAD/JPY pair for the upcoming month of November 2013 here.

Check out the CHF/JPY forecast for the upcoming month of November 2013 here.

Check out the GBP/AUD forecast for the upcoming month of November 2013 here.

Check out the Gold monthly forecast for November 2013 here.

Check out the EUR/USD forecast for the upcoming November 2013 month.

The AUD/USD pair fell during the session on Tuesday, slicing through the 0.95 level during the day. That is an area that begins a significant amount of support, but I do see that the support goes all the way down to the 0.9250 level, and as a result I don't think that the markets can be sold, even though it was a fairly bearish candle.

The USD/CAD pair initially fell during the session on Tuesday, but bounced by the end of the day in order to form a bullish candle, and a fresh, new high. This of course is bullish, and as a result I think this pair should continue higher.

The EUR/USD pair tried to rise during the Tuesday session, but as you can see failed to hang onto gains. The resulting candle ended up being fairly negative, and because of this I feel that this pair has a bit of weakness in the short-term coming, simply because the market had gone so far to the upside in such a short amount of time.