Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair fell again during the Monday session, but as you can see by the daily chart found quite a bit of support at 1.58 level. This is an area that I had suspected could cause a bit of a bounce, and so far it looks like my assumptions are holding somewhat true.

The AUD/USD pair had a slightly positive day on Monday, as the 1.05 level offered support yet again. I firmly believe that this area is the beginning of a significant base, and we are going to eventually see this pair break above the 1.06 level.

The USD/CAD, otherwise known as the good old 'Loonie' to us Canuck's has pierced a descending trend-line at 0.9932 2 days in a row with yesterday's low volume market printing a Bullish Inside Bar.

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The XAU/USD pair seems to be picking up momentum since the prices bounced off of the 1625.64 level. The pair printed two bullish weekly candles in a row.

The EUR/USD pair lost ground on Friday as we continue to bounce around just above the 1.3300 level. This area of course was significant resistance previously, and as a result we are currently testing it out support. This is a basic tenet of technical analysis, so of course this move isn't necessarily surprising.

The EUR/JPY pair has been out-of-control and absolutely ridiculous for the last couple of months. The way this pair moves, you would be forgiven if you thought gravity failed to exist. Having said that, we have seen a nice and relentless uptrend and it's obvious at this point time selling this pair is a very dangerous proposition.

The USD/CAD pair shot straight through the roof on Friday, managing to leapfrog the 0.99 handle for the first time in two weeks.

The Swissy (USD/CHF) printed a Weekly Engulfing candle last week off of the support level at 0.9100 that has halted it's decent for the past 5 weeks in a row.

Begin your trading week the right way with this forecast of some of the major Forex pairs. See the recommendations and where these pairs may be headed here.

XAU/USD closed higher than opening after a highly volatile session yesterday. Gold prices rose to its highest levels in four weeks against the greenback.

The EUR/USD pair had another strong showing on Thursday as the bulls continue to push the markets up and away. The Euro has been enjoying a bit of a reprieve from the brutal selloff we saw for most of the previous year or so, and as a result there has been quite a bit of short selling.

The EUR/JPY pair has been a one-way ride for some time now. The move that we saw on Thursday simply put an exclamation point on that reality. We had a nice hammer formed on Wednesday, and this of course was always bullish and signal that we would perhaps try to breakout and above the 120 handle.

The CAD/JPY pair had a very strong showing during the Thursday session and managed to make a fresh new high. This makes sense though, because the light sweet crude market itself broke out to the upside.

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