Forex Daily Forecast, Analysis and Prediction

End your trading week on a high as the XAG/USD pair is trending upward. Get the target and stop loss for silver here with this Forex signal.

After three consecutive days of losses it appears that the XAU/USD pair steadied during the Asian session today. The pair had continued its bearish free fall yesterday and hit the lowest level since June 31.

The WTI Crude oil market fell during the session on Thursday as the inventory numbers in the United States remain elevated. Also of concern would be the overall health of the global economy, which appears to be stalling in several different places.

The EUR/USD pair had an interesting session on Thursday as the ECB had its monetary policy meeting for the month. Because of this, this day was always going to be somewhat choppy, but I have to admit I am somewhat surprised by the basing action that we are starting to see.

The USD/CAD pair went back and forth during the session on Thursday, as the markets tried to deal with several different central bank announcements at once. Within the shape of this candle, you can see just how neutral the day was.

The EUR/JPY pair acted like it was fired out of a cannon on Thursday. Out of all of the Yen related pairs, this one absolutely checked out. Personally, I am actually long the NZD/JPY pair, which is doing quite well over in that market, so I cannot help but look at this chart between them. However, this is the exact type of situation that separates the amateur from the professional trader.

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It seems that the AUD/CAD pair is heading for a downtrend. Check out the Forex signal here and learn what it can mean for your trading.

The WTI Crude market came completely undone during the Wednesday session as inventory numbers in the United States came out much larger than anticipated. Because of this, it looks like the market has been caught off-guard, and we fell immediately down towards the $94.00 level.

The XAU/USD pair continued to sink yesterday and hit its lowest level since July 2012. Although data released from the Unites States were disappointing, technical selling pressure had a stronger impact on gold prices.

The EUR/USD pair initially sold off during the session on Wednesday, but bounced enough to form a bit of a hammer. With this being the case, I think that the market is getting ready to bounce a bit as it has been forming something that could be considered a bit of a base over the last four or five sessions.

The USD/JPY pair went back and forth during the session on Wednesday, eventually settling for a small loss. This candle did in fact break the top of the hammer from the Tuesday session, so technically it was a buy signal.

The AUD/USD pair initially rallied during the session on Wednesday, but as we have seen several times before, the 1.05 came in as significant resistance. As far as the recent action is concerned, this has form what looks like it could be a double top.

The WTI Crude Oil market had a back and forth session during the Tuesday trading hours, but as you can see ended up basically unchanged. With that in mind, I look at this chart and see that we indeed have a lot of bullish pressure underneath.

Check out this Forex signal for the EUR/GBP pair that is currently heading in an upwards direction here.