Forex Daily Forecast, Analysis and Prediction

The XAU/USD pair continued to retreat on Friday as strength in the American dollar and weakening demand helped sellers to dodge the bulls' attacks. As a result, the pair printed a shooting star on the weekly chart.

The EUR/GBP Monthly chart is showing clear bearish divergence. As you can see from the chart, we saw price action make a higher high back in February, but the Stochastic below barely made it over the 80/oversold level and still the pair fell almost 1000 pips after that formation printed.

The WTI Crude Oil markets had a tough day on Friday as all games were wiped out by the end of the session. In the end, we had formed a shooting star, which of course is very bearish signal, but it should be noted that it's sitting on top of massive support.

The EUR/USD pair fell during the session on Friday, but as you can see the 1.32 level did in fact offer enough support to form a hammer. This hammer of course signifies that support has come back into the marketplace and what I find truly interesting is that the 1.32 level is the bottom of the recent consolidation.

The USD/CAD pair went back and forth during the session on Friday, ending with a slightly negative candle. However, at the end of the day we really didn't decide very much, to continue to hover around the 1.05 level.

The AUD/USD pair tried to rally during the session on Friday, but as you can see gave back all of the gains and ended up forming a negative candle. In fact, this candle ended up being a shooting star at the bottom of a down move, which is always a very bad sign in my opinion.

Start the new month with a forecast of some of the major Forex pairs. Get the analysis here and plan your upcoming week accordingly.

The gold markets are without a doubt going to be one of the more difficult market to deal with in the month of September. This is because of the concerns coming out of the Federal Reserve and whether or not they are going to taper off of quantitative easing.

The NZD/CHF pair is one that a lot of people don't pay attention to, which I believe is truly unfortunate. This is one of those pairs that is so lopsided in one direction that it makes a great tertiary indicator.

The GBP/CHF pair has been very sideways for some time now. However, many of you probably don't remember a time when this was a "risk on” type of currency pair. Get the forecast for the upcoming month here.

The USD/JPY pair has been an interesting market to watch, simply because there are so many moving pieces at one point in time. Get the forecast for this pair here.

Gold prices settled lower yesterday as demand for the greenback increased after the Commerce Department's figures showed that the U.S. economy expanded more than estimated in the second quarter and the Labor Department reported that the number of people who filed for unemployment insurance payment for the first time fell more than forecast last week.

The WTI Crude Oil markets fell during the session on Thursday as you can see, but stopped right at the $108 level, the area that we broke out of the consolidation area. Because of this, I believe that this market is going to find support in this general vicinity, so that way I am not going to start shorting.

The EUR/USD pair fell hard during the session on Thursday, but as you can see we are still above the 1.32 handle. This is the area that I said had to be broke down in order for me to start shorting, and you will notice that we did get a little bit of support at the end of the day.

The GBP/USD pair fell during the session on Thursday, and if you have been reading my articles you know that I have been very interested in this general vicinity.