Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair fell during the session on Tuesday, as the Australian dollar continues to get hit. Read on to find out more.

This pair has a long history of following the 10 year notes from both economies, and as the United States is seen rising interest rates, it makes sense that money flows into this pair on the upside.

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Gold prices ended yesterday's session with a loss as rising expectations that the Fed's quantitative easing program will be scaled back in the near term continued to weigh on the market.

The WTI Crude Oil market initially fell during the session on Monday, but as you can see, traders came back into support the market. This followed an almost lockstep with what the US Dollar Index did during the session, as the US dollar initially appreciated, but fell back down in order to form a shooting star.

The EUR/USD pair fell during the session on Monday, but as you can see bounced significantly in order to form a hammer. What I find interesting about this hammer is that it's based on roughly the 50 day exponential moving average, and the 1.31 handle.

The USD/JPY pair fell during the session on Monday, retracing some of the strength that it had shown recently. Although this market has been falling for the last couple of weeks, I am still fairly bullish of it because I look at the longer-term picture.

The NZD/USD pair fell during the session on Monday, as the selloff of risky assets continued. However, by the end of the day we did see a significant bounce in the New Zealand dollar, and as a result we are closing with a hammer right around the 0.7750 level.

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Most of the YEN crosses have been trading in a relatively tight range the past few days, but the GBP/JPY has printed 2 daily candles in a row that show the open/close prices very close together and long wicks on both ends.

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The XAU/USD pair had another bearish weekly candle as investors continued to price in the Fed’s possible reduction in its asset purchase program in coming months. On Wednesday, the Federal Reserve confirmed that it is leaning towards tapering the pace of its massive stimulus measures.

The WTI Crude Oil markets fell again during the session on Friday, to continue the selloff that we have seen over the last three sessions. The main culprit of course is the US dollar and the Federal Reserve, as the Federal Reserve has suggested that they are going to taper off of quantitative easing over the next several months, and possibly be completely out of that game by the middle of next year.

The EUR/USD pair fell during the session on Friday again, plunging below the 1.32 handle. As you can see on the chart, I have a red trend line drawn that: signs with significant pressure to the downside on the weekly chart.

The GBP/USD pair fell during the session on Friday, which of course is very interesting considering we managed to not only fall, but we managed to break below the bottom of the Thursday hammer.