Forex Daily Forecast, Analysis and Prediction

The GBP/AUD pair pullback during the session on Friday for the second day in a row, but quite frankly I think this is only going to offer buying opportunities going forward.

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

The gold market has been a difficult market to be bullish of over the last several months, as it seems that the sellers simply just won’t give up. However, as I write this in mid-December, there is an obvious place on the monthly chart that we are approaching that could send this market higher.

The EUR/USD pair has been a real pain for a lot of traders over the last couple of years. One look at the monthly chart attached, and you can see that we aren’t really in a consolidation area, (rectangle) but we are in something that look consolidative with a slightly negative attitude. In other words, this is an ugly chart.

The USD/JPY pair could be one of the most interesting pairs this coming year. This is because of a variety of reasons, both technical and fundamental. The market is known for being very volatile, and this year will probably be even more so than usual.

The AUD/USD pair has seen the second half of 2013 as brutal. The market has fallen from 1.05 to the sub-0.90 level, and as a result should continue to see weakness in the first half of 2014.

The USD/CHF pair has been drifting sideways for the entirety of 2013. In fact, it did it in 2012 as well. This is why I have done very little analysis involving the Swissy this past year, and predicting the move in 2014 is certainly going to be a challenge of sorts.

Gold continued to slide on Thursday and traded near the lowest level in six months as investors turned to the relative safety of the American dollar after the Federal Reserve announced that the era of massive stimulus came to an end.

The WTI Crude Oil markets had a positive showing on Thursday, piercing the $99.00 level. This of course shows that the market still has some bullish intentions, but the fact that we gave back over half of the gains has me a bit concerned.

The EUR/USD pair fell again during the session on Thursday, but as you can see still remains above the crucial 1.36 level. That is an area where I expect see quite a bit of support, and therefore I’m not willing to sell this market.

The GBP/USD pair fell initially during the session on Thursday, but as you can see bounce off of the lows in order to form a hammer. Because of this, looks at the market is ready to go higher, but we have to keep in mind that the Wednesday candle gave back quite a bit of the gains.

The AUD/USD pair bounce during the session on Thursday after falling significantly on Wednesday. The 0.8850 level has offered enough of a boost with the market that remains somewhat bland, I think this a short-term at best.

The USD/JPY pair initially fell during the session on Thursday, but as you can see bounce off of the wider for region in order to form a nice-looking hammer. This hammer as the top of a long uptrend, so therefore I feel that the market continues to show bullish strength and we should hit the 105 level relatively soon.

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

Gold lost ground against the American dollar and closed the day at $1218.05 an ounce after the U.S. Federal Reserve decided to trim the pace of its monthly asset purchases by $10 billion to $75 billion.