Forex Daily Forecast, Analysis and Prediction

The rebound in U.S. housing and consumer spending has translated broadly to the dollar strengthening as the possibility of an earlier end to Federal Reserve stimulus measures has traders betting on higher interest rates.

The WTI market shot higher during the session on Tuesday, but did run the quite a bit of resistance at the $93.00 level. This is the epicenter of a cluster of noise going all the way to the $94.00 level, and as a result this doesn't surprise me that the market found it difficult to overcome.

The XAU/USD pair closed higher than opening yesterday as the bulls gained some strength on media reports saying that large speculators and hedge funds started recovering their short positions recently.

The EUR/USD pair went back and forth during the session on Tuesday, essentially going nowhere. This session simply reinforced the idea that the 1.2950 level will continue to be support, while the 200 day exponential moving average will continue to offer resistance.

The USD/JPY pair fell during the session on Tuesday, breaking below the 96 handle. This would have been a little bit more impressive, have the 96 handle managed to form some type of pedigree, but as we recently have just broke over it, there isn't a whole lot you can read into this.

The GBP/USD pair fell during the session on Tuesday, as the 1.49 level gave way to the sellers. The bearishness in this pair continues, and as a result certainly it's difficult to buy the British pound.

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

The changes in economic conditions as well as monetary and fiscal policies in the US and UK create an opportunity to gain from trading the USD against the GBP. Learn the trade idea for this pair here.

The WTI contract has an interesting session on Monday. The market originally fell, but as you can see on the chart, bounced back in order to form a hammer that stopped just at the top of the gap from last week.

Things are heading up for this pair. Get the details here with this Forex signal for the EUR/GBP.

Gold prices gained some ground yesterday as speculations that the Federal Reserve will not change its aggressive easing stance in the near future increased the precious metal’s safe-haven appeal.

The EUR/USD pair had a positive session for Monday, as a bit of “risk on” came back into the markets. The Non-Farm Payroll number out of the United States will have helped with risk appetite in general, and this generally – but not as much lately – means that the Dollar loses a bit of its luster.

AUD/USD had a strong session on Monday as the bullishness in risk assets came back slightly during the session. The 1.02 level acted as support again, and this would have been something that a lot of you will have been anticipating.

The USD/JPY pair has been squarely in the sights of almost all forex traders over the last few months. The action that we have seen over the last couple of days will have done very little to change that fact.

The AUD/NZD has been trading in a nice channel on the daily charts, making it rather predictable over the last 6-8 months. Get full technical here.