Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair had a strong showing during the Tuesday session, as we initially dipped down to the 1.30 level, but had plenty of buying at that area to push market higher. By the end of the session, we closed just below the 1.31 handle, and above the 50 day exponential moving average.

The AUD/USD pair had a strong showing on Tuesday, breaking all the way up to the 1.05 level again. However, by the end of the session we did pullback a little bit as the 1.05 level offered far too much resistance.

The USD/JPY pair had a fairly weak showing during the Tuesday session, as the 100 level is just above. By the end of the session, we ended the market just above the 99 handle, and had formed a hammer.

The AUD has staged a massive recovery this week against the US Greenback and is now testing a critical resistance level at 1.5000. Depending on how you look at it, the pair has either already broken, or is about to break a Weekly descending trend line.

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Ben Bernanke’s comments coupled with the lack of changes to the ECB’s benchmark interest rate last week have seen the Euro climb back from multi-month lows to above the 1.30 handle. Get the full analysis here.

It seems like everyone is the FX world has been concentrating on two main themes in the last few weeks: Cyprus and Japan. The consequences to the EUR from the unfolding of the crisis in Cyprus are yet to be fully determined because, as bad as things are there, is a minor economy in terms of size.

The EUR/GBP pair is trending upward and the experts at BNRY have all the information you need with this Forex signal. Get the stop-loss now.

Gold prices (XAU/USD) fell yesterday as the initial rally faded after the bulls run out of steam around the 1585 resistance level. Prices have been bearish during the Asian session today but I will be keeping an eye on the 1572/0 support zone.

The WTI Crude oil market had a positive session on Monday, confirming that the $93.00 level was in fact going to offer support. As you look at this chart, you can see that this area has been supportive in the past, so it makes sense that it returns to be now.

The EUR/USD pair stalled a bit during the session on Monday, essentially going nowhere. We hovered around the 1.30 level, an area that I suspect it would be resistive yet again, which of course proved to be so during the session.

The NZD/USD pair had a strong showing on Monday, using the 0.84 level as a launching pad. While this was bullish enough, I have concerns about the Kiwi dollar at the moment, only because there is so much resistance just above current levels.

The USD/JPY pair rose yet again during the session on Monday, and even managed to close of the very highs for the session. This market is obviously heading towards the 100 level, an area that I've been calling for some time now.

The EUR/CAD, along with many other EUR crosses has formed an inside bar on the daily chart. The pair fell to a low last week of 1.2952 then rebounded in a big way, climbing to a high of 1.3317 before closing on Friday at 1.3218.

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