Forex Daily Forecast, Analysis and Prediction

This market has a long history of going sideways for a significant amount of time and then suddenly skyrocketing in one direction or the other.

The EUR/USD pair bounced off of the 1.300 level during the session on Thursday, but quite frankly that's a major round number, which of course carries psychological significance.

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

The WTI Crude Oil market rose during the session on Thursday, breaking above the $97.00 level at one point during the day.

The one thing that's a bit different about the New Zealand dollar is that it tends to follow the soft commodities, something that most of you probably don't pay attention to.

The XAU/USD pair (Gold vs. the American dollar) continued to fall and hit the lowest level since August 25, 2010. The pair traded as low as 1221.75 before recovering slightly to 1234.25 during today's Asian session.

The WTI Crude Oil markets fell initially during the session on Wednesday, but as you can see found enough support near the $93.50 level in order to bounce back up and close above the $95.00 level.

The AUD/USD pair rose during the session on Wednesday, after forming two significant hammers on the daily chart. However, you can see that the sellers stepped in and push the market back down below the 0.93 handle, and because of that I think this market may struggle to reach the 0.95 handle, an area that I was very interested in shorting at.

The USD/CAD pair fell during the session on Wednesday, something that I had anticipated when the Monday shooting star was printed. Tuesday saw the market rent a hammer, so this of course throws a lot of confusion into the marketplace.

The EUR/USD pair fell during the session on Wednesday, slamming into the 1.30 level during the session. Obviously, the 1.30 level is a large, round, psychologically significant area which of course brings a lot of attention to the market participants.

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Gold prices remained under selling pressure and closed the day lower than opening after better than estimated housing and consumer confidence data out of the world's largest economy reinforced expectations the U.S. Federal Reserve will scale back stimulus this year.

The EUR/USD pair fell during the bulk of the session on Tuesday, continuing to show weakness that we have seen for over a week now. However, I am a bit hesitant to be involved in this market right now, simply because I don't see a buy signal, I certainly see a ton of support just below current levels.

Haven't seen our latest GBP/USD signal? We'll be following it from open to close, so you can still find your profits here.

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