Forex Daily Forecast, Analysis and Prediction

Faster than a speeding bullet, more powerful than a locomotive...Yes, I am talking about gold! The XAU/USD pair continued its freefall yesterday and as a result we have returned to a level which hasn't been seen since the beginning of 2011.

The WTI Crude Oil market had an absolutely horrific session on Monday, as we sliced through one of minor support level after another. Eventually, we found the $90.00 level, an area that should have been massive support.

The EUR/USD pair had a negative tone to it on the Monday session, but quite frankly considering how drastically some of the risk assets out there sold off, it's not much to worry about if you happen to be bullish of the Euro.

The EUR/JPY pair fell rather precipitously during the session on Monday, as the "risk off" attitude came back into the marketplace. This would have been kicked off by the less than stellar economic numbers out of China overnight, and as a result we saw quite a bit of selling in various marketplaces.

The USD/CAD pair had a bullish session during the Monday trading hours as we finally broke above the 1.02 level solidly. In fact, we managed to break above the 1.0230 area, which was a recent high that I had anticipated being rather resistive.

Before you begin your trading for the week check out this Forex forecast for some of the major pairs to learn where they may be headed.

Check out this Forex signal for the EUR/JPY pair brought to you by the experts at BNRY for DailyForex.com.

All through last week, the Canadian dollar held firm against the Euro after its recent losses. The losses came on the back of rumors that plans to bolster Europe’s financial system is now weakening. Get the analysis for the EUR/CAD pair here.

The XAU/USD pair had an interesting week, as prices finally broke below the 1532 support level which was the bottom of a giant consolidation zone. Gold prices had been running in this rectangle more than 80 weeks.

The WTI contract fell rather drastically during the session on Friday, as commodities in general got whacked. This is a recurring theme throughout the commodity sector, and as a result we saw several staples of the commodity markets collapse.

The EUR/USD pair fell during most of the session on Friday, but as you can see we got a bit of a bounce off of the 1.3025 region in order to form a hammer. What I find most interesting about this hammer is the fact that we closed just at the 1.31 handle, an area that had been so resistive lately.

The USD/JPY pair has been a one-way trade for quite some time, and the entire Forex world wants to sell the Japanese yen. This is been a great way to boost your accounts, as the simplicity of this trade has been quite overwhelming.

The NZD/USD pair finally broke out of the massive consolidation area that ended at the 0.8550 area during the course of the previous week. On Friday, we saw a bit of a pullback, but also sold bounce from that area as well.

The EUR/USD is certainly under a lot of pressure fundamentally speaking. The Cyprus debt issue continues to weigh heavy on the currency, which has been impressively resilient so far.

End your trading week with a Forex signal from the experts at BNRY for the AUD/CAD pair here.