Forex Daily Forecast, Analysis and Prediction

See where the euro is headed in this FXE signal from trading expert Andrew Keene, only at DailyForex.com.

Some of the major pairs did well last week and some fell. See how that will impact the week ahead with this Forex forecast of the majors here.

Last week’s ECB meeting featured a debate on rate reduction but the Governing Council later decided otherwise. The summary of that meeting as explained by Mario Draghi was that the medium-term economic forecast was stable.

Begin your week the right way with this Forex signal for the GBP/AUD pair. The direction is heading upwards, make your moves now.

The WTI markets had a bullish session again on Friday, after initially falling. The market closed just below the $92.00 level, and as a result we are pressing up against significant resistance.

The XAU/USD pair had an interesting session during the last trading day of the week with the bulls and bears gaining and losing ground almost equally. The non-farm payrolls report released from the Bureau of Labor Statistics showed that the U.S. economy added 236K jobs in February and the unemployment rate fell to 7.7% from 7.9%.

3 weeks ago I wrote about how the EUR/GBP was at a key resistance level based on a descending channel and key Fibo levels, namely the 50% level from the high in 2008 to the low in July 2012.

EUR/USD found itself falling again during the Friday session, as the weakness in the Euro continues. This market has been essentially straight down, but the 1.30 level continues to offer support.

The AUD/USD pair fell during the Friday session as money poured back into the United States. This was a result of a strong jobs number, not a "risk off" trade. As a result, I feel that this market may be changing an important dynamic: That the Australian dollar is no longer a "risk on" currency at the moment, but rather a proxy for Asia.

The GBP/USD pair fell during the Friday session as the United States released a better-than-expected nonfarm payrolls number for the month of February. The release stated that the Americans added 265,000 jobs the labor force during the month, and as a result there were more people willing to invest in the United States.

End your week with a Forex signal for the USD/CAD pair that is currently bearish. Check it out here.

The WTI Crude market had a positive session during the Thursday trading hours, as we attempted to break to the $92.00 level. However, that level has provided enough resistance to keep the market lower, but it should be noted that it appears the 90 handle is offering enough support to at least cause some type of reaction.

The XAU/USD pair closed the day lower than opening after the key central banks kept interest rates steady and announced no additional asset purchases.

The EUR/USD pair had a very strong showing during the Thursday session as the European Central Bank failed to expand any type of monetary easing during though meeting for the session.

The USD/JPY pair had a very strong showing on Thursday, which is indeed encouraging considering that the nonfarm payroll number comes out today. In other words, it appears that the market is front running the announcement a bit, and as a result it shows that we clearly have an upward bias.