Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair has been an interesting market to watch, simply because there are so many moving pieces at one point in time. Get the forecast for this pair here.

Gold prices settled lower yesterday as demand for the greenback increased after the Commerce Department's figures showed that the U.S. economy expanded more than estimated in the second quarter and the Labor Department reported that the number of people who filed for unemployment insurance payment for the first time fell more than forecast last week.

The WTI Crude Oil markets fell during the session on Thursday as you can see, but stopped right at the $108 level, the area that we broke out of the consolidation area. Because of this, I believe that this market is going to find support in this general vicinity, so that way I am not going to start shorting.

The EUR/USD pair fell hard during the session on Thursday, but as you can see we are still above the 1.32 handle. This is the area that I said had to be broke down in order for me to start shorting, and you will notice that we did get a little bit of support at the end of the day.

The GBP/USD pair fell during the session on Thursday, and if you have been reading my articles you know that I have been very interested in this general vicinity.

The NZD/USD pair went back and forth during the session on Thursday, but ultimately sold off. In the end, we are simply bouncing around just above the 0.77 handle, an area that has been very supportive.

According to Christopher Lewis's analysis of GBP/USD and Crude Oil, trader profited on a binary options platform.

The price action over the last week has been very quiet, with the exception of last Friday's bearish pin bar/hammer.

During the few days that have passed since last week, we have had neither a daily close below 1.33 nor above 1.3415, so the jury is still out as to whether the bullish trend will continue or reverse. Get the full analysis for the EUR/USD here.

It appears that the XAU/USD pair paused its ascent during the Asian session today level after five consecutive days of gains. Get the full analysis here.

The WTI Crude Oil markets rose during the session on Wednesday, but as you can see ran into far too much resistance above the $112 level in order to hang onto the gains. In fact, this market looks like it suddenly is running into serious trouble, at least for the moment.

The EUR/USD pair fell during the balance of the session on Wednesday, but as you can see got a little bit of a bounce in order to show some signs of support.

The GBP/USD pair fell for the balance of the Wednesday session, and at one point in time was well below the 1.55 support level. However, by the end of the day you can see that we gained all of the losses just about, and in the end formed a nice looking hammer at a support area.

The AUD/CHF pair has not only reached a support level that we have to go back literally years to find, but it also shows Bullish divergence with a lower low in price, but a higher low on the stochastic than it did on August 08.

The GBP/USD pair fell during most of the session on Tuesday, but as you can see the 1.55 handle offered enough support to cause the market to bounce from that general vicinity. On top of that, you can see that the market formed a hammer, which of course is a very positive sign as well.