Forex Daily Forecast, Analysis and Prediction

I know I have recently suggested that I was only going to use short term charts to demonstrate with going on in the WTI market, but quite frankly the action today was significant enough for me to pull back and look at the daily chart.

The XAU/USD pair had a bearish session as expectations of a reduction in quantitative easing provided extra support for the American dollar.

The USD/CHF 4 hour chart has now printed a triple top/head & shoulders pattern. The pattern comes after 2 very bullish weeks and occurs after yesterday's high once again tagged the 200 EMA on the Weekly Chart (inset).

The AUD/USD pair spent most of the market hours on Tuesday going back and forth, hovering around the 0.98 handle. This is essentially where were ending the session, and the resulting candle does look a bit like a hammer at this point.

The GBP/USD pair showed weakness again during the session on Tuesday, as the 1.5250 level continues to be far too resistive for the market to move beyond.

The EUR/USD pair went back and forth during the session on Tuesday, looking just as lost as usual. However, the market did drift down towards the 1.2825 level, and found support as we would expect.

The WTI Crude Oil markets had a slightly negative session on Tuesday, but you can see that the same general area is offering support as the $95.50 level continues to be a bit of a problem for the sellers.

The XAU/USD pair closed the day lower than opening as the bulls failed to break through the 1400 level once again. The bulls have been struggling to push prices above this barrier for almost 4 days.

According to the analysis of the EUR/GBP and AUD/USD trader profited on a binary options platform.

Gold(XAU/USD) has printed a double bottom on the daily chart. This is depending of course on whether or not the new higher low holds its footing, but the 4 hour chart is also showing an interesting candle pattern.

The XAU/USD pair closed yesterday's session higher after seven consecutive days of losses as investors took some of profit off the table prior to the release of the Federal Open Market Committee meeting minutes.

The AUD/USD pair rose during the session on Monday, and as a result we managed to get back over the 0.98 level.

The EUR/GBP pair initially rose during the session on Monday, but as you can see, it fell later in the day. The resulting candle was a shooting star, and although this is a very negative sign I am not willing to short this market.

The USD/JPY pair fell during the Monday session, perhaps taking a break from the massive bullishness that we have seen as of late.

The WTI Crude market had a relatively benign trading session for the Monday hours. In fact, the daily candle formed a shooting star.