Forex Daily Forecast, Analysis and Prediction

The XAU/USD pair fell sharply and traded as low as 1558.46 yesterday as the pair accelerated its decline after breaking below a critical support level of 1588 which was the bottom of the descending channel.

The EUR/USD pair had a rough session on Wednesday as the market initially trying to rally in the early hours, but was turned around and sliced through the 50 day moving average. The 50 day EMA is quite often used by traders to determine short-term momentum in a market based upon the longer-term attitude.

The GBP/USD pair fell drastically during the session on Wednesday, as the Bank of England suggested that further easing could be coming down the road. The United Kingdom has a very soft economy right now, and there are several people out there concerned about a "triple dip recession."

The EUR/GBP pair rallied for most of the session on Wednesday, as the bank of England took a much softer stance on monetary policy then people would have expected. However, no further quantitative easing was suggested beyond the usual fare, and as a result the Pound would have lost ground against most currencies, but did remained some type of firmness in the end.

The EUR/GBP has been trading in a weekly channel since establishing a high of 0.9802 in 2008, and has now once again reached the top of this channel.

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

Catch up on the EUR/CAD pair with this Forex signal from Fadi and learn what his recommendation is here.

The WTI crude markets rose during the session on Tuesday, breaking above the $97.00 level yet again. We have been in a consolidation area for some time now, and this simply looks like a continuation of that.

It appears that the XAU/USD pair halted its decline at the 1603 area after five consecutive days of losses. Gold prices have been falling since October on optimistic U.S. data. Rising car and house sales show the economy is improving and there are further signs that the labor market is stabilizing.

What is in store for silver? Find out with this free Forex signal from DailyForex.com.

The EUR/USD market got a bit of a boost during the Tuesday session as the ZEW numbers in both Europe and Germany came out much stronger than expected. The ZEW is a measurement of confidence in the economy, and as a result the fact that the confidence level was much higher than anticipated got buyers in the mood the push the market higher.

The USD/CAD pair rose during the session on Tuesday, breaking through the 1.01 handle which has been an area that I've been wanting for some time. This is a very bullish move, but the biggest problem I have is the shape of the candle as it formed a fairly well formed a shooting star.

The AUD/CAD pair had a strong showing during the Tuesday session as the market plowed into the 1.05 level. The Canadian dollar found itself on the back foot for most of the session, and the Aussie finally got some relief again some of the major crosses.

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

Fadi is back and ready with a Forex signal for you to start your day with. Check out the signal for the GBP/CAD pair here.