Forex Daily Forecast, Analysis and Prediction

A look at the technical indicators for USD/JPY without the distraction of fundamentals and macro will paint an interesting picture that is certainly worth looking at.

Check out the weekly Forex signal for the EUR/GBP pair here.

Last Tuesday, the price reached within 10 pips of the previous week's high after the bullish momentum had begun to stall, ultimately forming a bearish reversal candle. It had a long lower wick, but it was still a reversal and therefore adequate for a short which would be nicely profitable by now.

According to the analysis of the AUD/USD and USD/CAD pairs, trader profited on a binary options platform. See how here.

Last week was a bullish reversal candle, it also closed above the previous week's high, and the open of the week before that. This indicates bullishness, showing that we can expect 1.5680 before we reach 1.5504, in fact getting back up to the resistance zone between 1.5730/50 first is likely.

Although the XAU/USD (Gold vs. the American dollar) pair fell for most of the week, it had a nice bounce during the Friday session after August payrolls growth came in short of expectations.

The WTI Crude Oil markets took off during the session on Friday in response to the nonfarm payroll numbers coming out of the United States. The numbers were disappointing, and this has traders out there thinking that the Federal Reserve may not be able to taper off of quantitative easing in the next month or two.

The EUR/USD pair rose during the session on Friday, as the nonfarm payroll numbers came out rather disappointing. Because of this, the Euro got a bit of a gain against the US dollar which of course was pummeled against most currencies.

The USD/CAD pair fell during the session on Friday, in reaction to the nonfarm payroll numbers coming out less than strong. This had traders out there thinking that the Federal Reserve may in fact hesitate on tapering off of quantitative easing.

The AUD/USD pair rose during the session on Friday, mainly in response to the nonfarm payroll number that was weaker than anticipated out of the United States. The theory being that the Federal Reserve could not taper off of quantitative easing anytime soon, and this of course weakened the US dollar.

Check out the forecast for the major Forex pairs here and be prepared for the week ahead.

The XAU/USD pair printed another bearish candle yesterday on the back of the solid U.S.

The WTI Crude Oil markets rose during the session on Thursday to continue grinding sideways.

The EUR/USD pair fell hard during the session on Thursday, as we broke well below the 1.32 handle.

The GBP/USD pair tried to rally during the session on Thursday, but as you can see the 1.5650 level offered enough resistance to push the market back down, and form a shooting star.