Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair had a negative close to the year 2013, and as a markets open on January 1, it appears that thin trading has reinforced the idea of an upward momentum in this market. I personally believe that this market is trying to break out to the upside, but the recent breakout would have been a bit of a “false breakout”, predicated upon illiquid conditions.

The USD/JPY pair rose during the last session of 2013, and at the late opening on January 1, you can see that the markets continue to show somewhat of a bullish stance. I believe that breaking above the 105 level was significant, and that the area should offer support going forward.

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

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

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

We publish Adam’s trading signals daily covering EUR/USD, GBP/USD, and USD/JPY. As they are daily signals which are not updated throughout the day, they are conservative, and as such are frequently not triggered.

The XAU/USD pair closed yesterday's session lower after three consecutive days of gains as the Ichimoku cloud on the 4-hour time frame continued to offer some resistance. The pair accelerated its decline after breaking below the 1205 support level and traded as low as 1195.07.

The WTI Crude Oil markets fell during the session on Monday, crashing into the $99 support level. This is an area that offered quite a bit of resistance last week, so it’s not a big surprise to me that it offered support this week.

The EUR/USD pair initially fell during the session on Monday, but as you can see eventually got enough momentum to the upside to break above the 1.38 handle, albeit just barely. At the end of the day, the market does look positive and it does look like it wants to go higher.

The GBP/USD pair try to rally for the balance of the money session, but as you can see gave back quite a bit of the gains. When I do find significant is the fact that gave back most of the gains right around the 1.65 handle, and at the end of the day formed a shooting star.

The EUR/JPY pair did almost nothing during the session on Monday, which of course isn’t much of a surprise. After all, traders are generally away from their desks, and focus more on the New Year’s holiday than anything else.

The AUD/USD pair rose during the session on Monday, bouncing off of the recent lows again. However, it’s a bit difficult to read too much into this chart, simply because Monday would have been such an illiquid session.

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

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

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