Forex Daily Forecast, Analysis and Prediction

In fact, the UK economic data that was released very shortly after my analysis had a very bullish effect on this pair, which shot up about 140 pips in half an hour or so.

The XAU/USD pair scored a gain of 0.78% on a weekly basis as congressional testimony from Federal Reserve President Ben Bernanke, who said there was no predetermined pace of reductions in the asset purchases, eased the greenback’s safe-haven appeal.

Gold rallied at the open of the Asian session today, rocketing over 200 pips higher in the first hour to its current price of 1318.06 on what appears to be some dollar weakness as the USD/JPY also picked up about 100 pips from its close on Friday.

The WTI Crude Oil markets had an interesting session on Friday, as we continued to try and grind higher, but fell short and ended up earning a pretty substantial shooting star.

If you had traded the Bitcoin forecast as I suggested when momentum kicked in and closed on a reversal of momentum you would have had a 50% return over in just over a week (~2500% annualised).

The New Zealand dollar has been a little bit more resilient than it antipodean cousin across the Tasman, the Aussie dollar.

The EUR/USD pair rose during the session on Friday, to show even more strength.

I am not a big fan of the Pound in general, but this move is pretty stout, and therefore I will be arguing with that.

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

The XAU/USD pair closed yesterday's session higher than opening but remained within the last four days trading range.

The WTI Crude Oil markets had a very strong session on Thursday, as the markets closed that the $108 level.

The EUR/JPY pair had a very strong showing on Thursday, and in fact managed to breakout above the top of the shooting star from the Wednesday session, a candle that I thought would keep this market consolidated.

Going forward from there though, I would expect to see resistive action somewhere just above, and because of this I'm actually on the sideline right now looking for an opportunity to sell the New Zealand dollar yet again.

This market has formed several hammers over the last week, and because of this I think it's obvious that the market is going to attempt to go higher.

Last Friday the USD/JPY pair produced a bullish reversal bar which was broken to the upside the very next day. However just after that, last Tuesday produced a bearish reversal.