Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair has been rather difficult to trade lately. On September 18 we saw the pair fall over 120 pips only to watch it reverse and climb over 180 pips the following day on the Fed’s ‘No Taper’ news.

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

Gold was off $10 on Monday, currently at 1322 (as of 430 PM EST). Using the 1200 low close and current bottom, Gold recently bounced directly off the 50% retracement level, at 1306, and met resistance at 23.6%, or 1365.

AUD vs. the USD is building a base that if can hold, should setup well for AUD bulls. The pair has made a mid-term bottom at the 90 handle, and within a week has rallied to .95.

Gold weakened against the American dollar for a second session on Monday after two investment banks cut their forecasts for 2013 and 2014. The XAU/USD pair traded as low as 1343.40 but erased some of its recent loses as weaker-than-expected U.S. manufacturing data eased the greenback’s safe-haven appeal.

The WTI Crude Oil markets fell during the session on Monday, but remain elevated enough to stay in the consolidation area that we've seen recently. The $102 level has been supportive, and I still believe that will be the case going forward.

The EUR/USD pair fell during the session on Monday, but as you can see ran into a bit of support at the 1.35 level. That being the case, it's obvious that this market still looks very bullish, and the 1.35 region should offer a bit of support.

The GBP/USD pair rose during the session on Monday, but gave back some of the gains. The most important thing to me though was the fact that the 1.60 handle did in fact offer support, and that was when I was waiting to see.

The EUR/JPY pair fell hard during the session on Monday, but as you can see ran into a significant amount of support somewhere close to the 133 handle. This was the site of a significant breakout recently, so it does make sense that we would start to see some buying in this general vicinity.

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

This weekly chart shows that last week closed up, but with a very long upper wick showing weakness in the zone from about 0.9400 to the high of 0.9527, which is close to the upper wick of the bearish reversal candle that formed in June. It appears there is a zone of resistance from 0.9527 to 0.9640.

The gold markets have had a fairly strong bounce recently, mainly because of the Federal Reserve and its decision to hold off on tapering. The markets were a bit taken back by that, but since then we have seen other questions asked about the economy, so at this point- the gold markets are going to be bumpy to say the least.

The EUR/JPY pair is Chris's favorite pair to trade. Find out why in this forecast for the upcoming month of October here.

Check out the October 2013 Forex forecast for the GBP/USD pair here and be prepared for the upcoming month.

Learn what may be in store for the AUD/USD pair here with this forecast for the upcoming October month.