Forex Daily Forecast, Analysis and Prediction

The USD/CAD pair fell during the session on Monday, after attempting to break above the 1.04 handle.

The USD/JPY pair fell during the session on Monday, reaching for the 98 handle.

The EUR/USD pair fell slightly during the session on Monday, after bouncing around all day.

The USD/CAD did indeed reject 1.0250 last week, and in the process held an ascending channel on the Weekly chart and formed a bullish engulfing bar at the same time.

The XAU/USD pair closed the week lower after three consecutive weeks of gains as the Ichimoku cloud on the daily time frame continued to offer some resistance.

It appears of this market is grinding sideways again, and that we should begin to fall and try to test the bottom of the range at the $103 level.

The EUR/USD pair rose during the session on Friday, continuing to consolidate in the same general area we have been in all week.

The shooting star of course means a weakness could be coming, but we do not have a market that is one that can be sold at the moment.

The GBP/USD pair rose during the session on Friday, smashing through the 1.5250 level, an area that had been expected to be significant resistance.

Check out the forecast for the week on some of the major Forex pairs here.

I recommended holding for unleveraged, the market touched 101 before bouncing back quite quickly in one of the strongest recent trends.

Trade Recommendation for long-term profit. See details here.

Trade Recommendation for long-term profit. See details here.

The XAU/USD pair fell for a fifth consecutive day as upbeat data on the U.S. economy boosted the Greenback’s safe-haven appeal.

For those with unleveraged positions I advised staying long nothing was likely to happen until a channel reformed before a trend appeared (which is now formed at the time of writing).