Forex Daily Forecast, Analysis and Prediction

The XAU/USD pair had a positive day as the adrenalin rush of a decision by the Federal Reserve to start trimming the bond purchases wore off.

I believe that this market is completely overdone considering the situation in Egypt.

The EUR/USD pair rose during the session on Monday, bouncing off the 1.28 handle yet again.

I sadly cannot sell this market because of the way the Bank of Japan has been acting, and the fact that the Euro is oversold in general.

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USD/CAD tends to be one of the more difficult pairs to predict technically. Nevertheless some clear conclusions can be drawn.

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Pennants tend to indicate continuation, suggesting that over the very long-term, GBP/USD will continue to fall.

The WTI Crude Oil markets had a positive session on Friday as the nonfarm payroll numbers came out showing that the Americans added 195,000 jobs to the economy in June.

The USD/JPY pair initially fell during the session on Friday, but the release of the nonfarm payroll numbers juiced the market enough to push this pair well above the 101 level.

The GBP/USD pair fell hard during the Friday session, smashing through the 1.50 level like it wasn't even there.

The EUR/USD pair fell on Friday again as the US nonfarm payroll numbers came out stronger than anticipated.

The major focus of the last trading day of the week was encouraging employment data out of the world's biggest economy.

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